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China wants to bring its trade ties with the U.S. back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the U.
Official figures showed modest growth in the second quarter as exports shifted to other countries and Beijing invested in manufacturing and infrastructure.
Trump admin imposes 93.5% tariffs on Chinese Graphite, used in making Lithium-ion batteries. The move could lead to supply chain issues.
The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.
China reported a better-than-expected economic growth as the world’s second largest economy took advantage of a trade truce with the US amid President Donald Trump’s tariff offensive.
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Analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.
The report on China’s gross domestic product was released as the U.S. took stock of the latest inflation figures, which showed that Trump’s tariffs were starting to push up prices. Prices of the products most exposed to tariffs, like household furnishings, jumped significantly in June.
China's Ministry of State Security on Friday said foreign spy agencies had tried to "steal" rare earths and pledged to crack down on infiltration and espionage targeted at its critical mineral sector.
The Canadian Press on MSN9h
Canada to target steel originating from China with new tariffsOTTAWA — Canada is moving to shore up its domestic steel industry amid U.S. President Donald Trump's ongoing global trade war, with new tariffs targeting China and other countries around the world.
WASHINGTON — President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.
But manufacturers are still racing to adapt as the trade war threatens global supply chains. What’s next as China looks to keep its economy from getting worse? Join Bloomberg’s reporters for a live discussion on July 17 at 9:30 p.