Page 13 - Us China Trade War

China's export orders dip in April as Trump's tariffs begin to bite

Higher tariffs on US imports of products from China appear to be taking a toll on the world's second-largest economy, according to monthly surveys of Chinese factory managers released Wednesday. The official survey by the China Federation of Logistics and Purchasing shows export orders slowed in April, with Beijing and Washington in a standoff after US President Donald Trump ordered combined tariffs of up to 145 per cent on Chinese goods. China has imposed duties of up to 125 per cent on US products, with some exemptions. It has also ordered other retaliation, such as tighter restrictions on exports of some strategically important minerals used for high-tech products such as electric vehicles. The official manufacturing purchasing managers index fell to a 16-month low of 49.0 from 50.5 in March. That's on a scale where 50 marks the break between expansion and contraction. A private survey by the financial information group Caixin fell to 50.4 from 51.2. The sharp drop in the PMIs .

Trump's tariffs cloud economy as US firms scale back shipments from China

American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president's massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers, perhaps within weeks. And the higher costs and paralysing uncertainty could exact an economic toll: US consumers are in the biggest funk since COVID-19 hit five years ago, and economists say recession risks are climbing. An early sign of the damage is expected to emerge on Wednesday when the Commerce Department releases its first look at first-quarter economic growth. The economy is forecast to have expanded at an annual pace of just 0.8 per cent from January through March, according to a survey of economists by the data firm FactSet. That would be the slowest quarter of growth in nearly three years and would be down from a healthy 2.4 per cent in the last three

China lashes out at US as tensions escalate over space observatory in Chile

China struck a defiant stance on Tuesday in response to American concerns about Beijing's efforts to expand its influence in the resource-rich South American nation of Chile, escalating tensions over a Chinese astronomical venture in Chile's arid north. At a press conference Tuesday in Chile's capital of Santiago, China's ambassador to Chile, Niu Qingbao, lambasted the United States for interfering in Chile's sovereign right to independently choose its partners and spreading "disinformation about the project. The astronomy project stems from a 2023 agreement between China's state-run National Astronomical Observatory and Chile's Catholic University of the North to work on a powerful space observatory in the country's vast northern Atacama Desert. The proposed high-resolution telescope would be able to observe near-Earth objects, which are classified as asteroids or comets. But the project quickly became entangled in China's spiralling rivalry with the Trump administration. Worries

Wall Street choppy as markets juggle trade war news, mixed earnings

The world's two largest economies have slapped tit-for-tat import tariffs on each other and uncertainty around the state of negotiations between the two has kept markets on edge

AO Smith Q1 revenue dips 2% on weak US, China water heater demand

The company, which makes residential and commercial water heaters, boilers, tanks and treatment products, posted a 2 per cent fall in quarterly sales to $963.9 million

Trade war with US may kill 16 million jobs in China, warns Goldman Sachs

Retail, manufacturing, and coastal economies brace for impact as US-China trade tensions escalate

Walmart tells Chinese suppliers to resume shipments amid US trade war

Since the imposition of a 145% tariff on Chinese imports in the US, American logistics firms have reported a sharp decline in container bookings

Retailers warn of empty shelves as US-China trade war disrupts shipments

Many logistics firms are storing goods in warehousing or rerouting through Canada to wait out the tariff war

Nations forced to choose sides as US-China economic tensions intensify

One went to the United States. The other went to China. It was a sign of the times. While the Swiss president was in Washington last week to lobby US officials over President Donald Trump's threatened 31% tariff on Swiss goods, the Swiss foreign minister was in Beijing, expressing his nation's willingness to strengthen cooperation with China and upgrade a free trade agreement. As Trump's trade war locks the world's two largest economies on a collision course, America's unnerved allies and partners are cosying up with China to hedge their bets. It comes as Trump's trade push upends a decade of American foreign policy including his own from his first term toward rallying the rest of the world to join the United States against China. And it threatens to hand Beijing more leverage in any eventual dialogue with the US administration. With Trump saying that countries are kissing my ass to negotiate trade deals on his terms or risk stiff import taxes, Beijing is reaching out to countries

China's trade, economy tsar steps into spotlight amid Trump tariffs

China has repeatedly denied that tariff-related negotiations were ongoing, though on Friday it exempted some US goods from its retaliatory tariffs

Chinese firms race to open US factories as Trump's tariff war hits home

Donald Trump's message for Chinese exporters was clear: move production to America, or risk being priced out of the market

China's Q1 industrial profits return to growth amid US tariff woes

Cumulative profits of China's industrial firms rose 0.8 per cent to 1.5 trillion yuan ($205.86 billion) in the first quarter from a year earlier

Trump says Xi Jinping called to negotiate tariff deal; China rejects claim

Trump in the interview said he has made 200 tariff deals and expected to finish negotiations in about three or four weeks

Cheap e-shopping just ended in US as Trump plugs de minimis tariff loophole

For years, Chinese e-commerce giants like Shein and Temu thrived on a trade loophole that let them ship cheap goods to the US without paying tariffs, which President Trump has now ended

Trade war narrows down to US-China, Chinese trade deflection a real worry

The fear of deflection of Chinese exports to third markets is giving a major scare to the policymakers in developing nations

Politburo to shed light on Xi Jinping's strategy for trade war stimulus

The Politburo, the ruling Communist Party's 24-member decision-making body led by President Xi Jinping, is expected to assess the economy's outlook at a gathering by the end of this month

China boosts cash injection to shield economy from US tariff impact

The People's Bank of China will conduct 600 billion yuan ($82.3 billion) of one-year medium-term lending facility to maintain ample liquidity in the banking system

China considers rolling back 125% tariff on key US imports amid trade war

US-China trade war: The rollback would impact key industries such as medical equipment and industrial chemicals

Indian Rupee opens stronger at 85.19/$ on FII inflows, US-China trade talks

The domestic currency opened 8 paise stronger at 85.19 after closing at 85.27 against the greenback on Thursday

Global container shipping volume to fall 1% on Trump trade policies: Drewry

That would be the third drop in global container shipping demand since London-based Drewry began collecting that data in 1979