China, Trump and GDP growth
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China’s economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.
If Russia fails to end the war in Ukraine within 50 days, India fears that the tariff could cause a spike in oil prices, analysts say.
Tariffs on Chinese goods have taken effect, and the impact is already noticeable in ports, as cargo volumes are down, leading to supply chain disruptions.
China’s economy slowed in the second quarter even as it topped market forecast in a show of resilience against U.S. tariffs, though analysts warn of underlying weakness and rising risks that will ramp up pressure on Beijing to roll out more stimulus.
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U.S. President Donald Trump ratchet up tariffs on Chinese imports to a prohibitive level of 145%, spurring a round of stimulus measures from Beijing.
The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.
The report comes about six months after Trump returned to the White House and began taking drastic measures that his administration says will improve government efficiency and protect U.S. interests, triggering condemnation from Democrats that the moves could amount to ceding global influence to China.