A worker cycles past containers outside a logistics center near Tianjin Port, in northern China, on Thursday. Jason Lee/ Reuters
China’s state planner said on Friday trade frictions with the United States has had some impact on China’s economy, but it was “controllable” and countermeasures would be rolled-out when needed to “keep economic operations within reasonable range.”
The National Development and Reform Commission (NDRC) gave its assessment during a press conference held in Beijing.
China reported surprisingly weaker growth in retail sales and industrial output for April on Wednesday, adding pressure on Beijing to roll out more stimulus as the trade war with the United States escalates.
US President Donald Trump's tariff increase to 25% on $200 billion worth of Chinese goods took effect on Friday, and Beijing said it would strike back, ratcheting up tensions as the two sides pursue last-ditch talks to try salvaging a trade deal.
European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed on Monday.
A White House official, speaking on condition of anonymity because they were not authorized to speak publicly on the matter, confirmed that the talks had concluded for the day but could not say when they would resume.
China is digging in for a tough period of deteriorating ties with the United States, fanning the flames of patriotism with Korean War films, a viral song on the trade war, and editorials lambasting Washington.
United Airlines is canceling more than 2,400 flights during the busy summer travel season as Boeing’s 737 Max jets remain grounded. Chicago-based United Airlines had already pulled flights on the 737 Max
Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters.