US tariffs

December 16, 2024 11:30 AM

China’s fragile recovery: industrial gains, sluggish retail, and stimulus pressure as U.S. tariffs loom

China's industrial output growth quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more U.S. trade tariffs under a second Trump administration. The mixed set of data underlines the challenges facing Chinese leaders heading into 2025 when trade relations with the United States could worsen at a time when domestic consumption also remains weak. "China's economy appears to have slowed last month,...

Biden sharply hikes US tariffs on Chinese imports

U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. Biden will keep tariffs put in place by his Republican predecessor Donald Trump while ratcheting up others, the White House said in a statement citing "unacceptable risks" to U.S. "economic security" posed by w...