China gets boost in retail sales
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China’s retail sales growth unexpectedly accelerated as the economy rode out the tariff rollercoaster in May, offering a confidence boost to Beijing as it stares down the threat of a prolonged trade war with the US.
China’s factories felt the pinch from tariffs in May, despite a trade truce with Washington, as real-estate woes weighed on investment. Growth in industrial production slowed to 5.8% in the first five months of the year.
From supply chain competition between Beijing and Washington to domestic consumption picking up in China, here’s a round-up from today’s coverage.
China's overseas express delivery packages maintained robust growth momentum of more than 10 percent year-on-year in May, despite the pressure of US tariffs, the latest official statistics showed on Monday.
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BEIJING (Reuters) -Billions of dollars of Chinese goods have been impacted by additional U.S. tariffs since 2018, initially under the first Donald Trump presidency and later under the Biden administration. Returning to the White House this year, Trump has imposed even more duties on China.
Boeing Co. delivered its first aircraft to a Chinese airline customer since President Donald Trump unleashed a wave of tariffs in early April, a sign of rapprochement as Washington and Beijing look to ease tensions.
Furniture and bedding from China have been among the top areas where higher tariffs on goods from China have begun to impact consumer prices, according to a new chart from TD Securities. Other areas,
China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations.
John Hamer, president of Rodgers Wade Manufacturing in Paris, Texas, makes store fixtures for big retailers like Ross Dress for Less and Ulta Beauty. He sources many of the goods from China, which until recently meant he paid 70% in tariffs on metal fixtures.