US tariff war hurting trade with China; Beijing ‘confident’ of hitting growth targets – business live
Rolling coverage of the latest economic and financial newsChina’s policymakers are insisting today that they will hit this year’s growth targets, despite the impact of Donald Trump’s tariffs.The vice head of China’s state planner said on Monday he was “fully confident” that the world’s second-largest economy would achieve its economic growth target of around 5% for 2025.“The achievements of the first quarter have laid a solid foundation for the economic development of the whole year.No matter how the international situation changes, we will anchor our development goals, maintain strategic focus and concentrate on doing our own thing.”For companies, new orders are falling, capex plans are declining, inventories were rising before tariffs took effect, and firms are revising down earnings expectations.For households, consumer confidence is at record-low levels, consumers were front-loading purchases before tariffs began, and tourism is slowing, in particular international travel. Continue reading...
Rolling coverage of the latest economic and financial news
China’s policymakers are insisting today that they will hit this year’s growth targets, despite the impact of Donald Trump’s tariffs.
The vice head of China’s state planner said on Monday he was “fully confident” that the world’s second-largest economy would achieve its economic growth target of around 5% for 2025.
“The achievements of the first quarter have laid a solid foundation for the economic development of the whole year.
No matter how the international situation changes, we will anchor our development goals, maintain strategic focus and concentrate on doing our own thing.”
For companies, new orders are falling, capex plans are declining, inventories were rising before tariffs took effect, and firms are revising down earnings expectations.
For households, consumer confidence is at record-low levels, consumers were front-loading purchases before tariffs began, and tourism is slowing, in particular international travel. Continue reading...
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