China, Australia talk free trade, more dialogue
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Since US President Donald Trump – just days into his second term – began imposing tariffs on China for its role in the flow of deadly opioids like fentanyl into the United States, Beijing’s message has been clear.
BEIJING—China’s exports grew at a faster clip in June, topping market expectations as trade tensions with the U.S. eased following a round of bilateral talks. Outbound shipments rose 5.8% in June from a year earlier,
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.
External demand continues to support Chinese economic growth, as the first-half trade surplus surged to a new high of $586bn.
Shoppers are taking advantage of a $42 billion government trade-in program aimed at boosting spending. But in recent weeks, some cities have started to cut back on the subsidies.
3don MSN
China and the Association of Southeast Asian Nations have agreed to submit a pact upgrading their free trade areas to their leaders for approval in October, according to China's foreign minister Wang Yi on Saturday.
Domestic politics in trading partner countries, as well as China's influence, are complicating Trump's tariff negotiations.
US apparel imports from China have plunged dramatically since April – and fashion companies plan further reductions.