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
China and the United States head on Thursday into a make-or-break round of trade war negotiations with hopes of a deal hanging by a thread after Washington scheduled a massive tariff hike on Chinese goods.
European and Asian stocks unravelled Friday, resuming a midweek slump, with investors spooked by a ratcheting up of trade war clouds after US President Donald Trump announced tariffs on all Mexican imports.
Trade tensions and the exchange of tariffs between the United States and China pose a «threat to the global economy,» the International Monetary Fund warned on Thursday.
US economic growth accelerated in the first quarter, but inflation pressures were much weaker than initially thought, supporting a recent decision by the Federal Reserve to suspend further rate increases.
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 stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China’s Huawei Technologies offset a slightly more positive tone on trade.
The head of the International Monetary Fund said on Tuesday that fresh trade tensions between the United States and China were the main threat to the world economy.
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.