The countries have exchanged tariffs on $360 billion in a two-way trade.
China’s factory activity shrank more than expected in June, an official manufacturing survey showed, highlighting the need for more economic stimulus as US tariffs and weaker domestic demand ramped up pressure on new orders for goods.
The White House said on Friday that President Donald Trump is delaying a decision by up to six months on whether to impose tariffs on imported cars and parts to allow for more time for trade talks with the European Union and Japan.
Trade talks between the US and China broke up on Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports.
The United States and China have agreed to a tentative truce in their trade dispute ahead of a meeting between leaders of the two nations at the G20 summit this weekend, the South China Morning Post reported on Thursday, citing sources.
Global stocks fell on Friday, with emerging market and Asia shares hardest hit, as a recent rout in global bond markets spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.
G20 finance ministers and central bankers were meeting on Friday to align plans to relaunch the global economy after the coronavirus pandemic and to limit the harm to the worst-off nations shut out of the race for vaccines.
Volkswagen said on Friday it made better than expected profit of 8.8 billion euros ($10.7 billion) after tax in 2020 despite the pandemic. The world’s No. 2 automaker said the rapid recovery of China,