Donald Trump, Tariffs
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Official figures showed modest growth in the second quarter as exports shifted to other countries and Beijing invested in manufacturing and infrastructure.
The world's second largest economy grew by 5.2% in the three months to the end of June, official figures show.
Less than half of Trump 2024 voters, 46%, said they would support tariffs on China — one of America’s biggest trading partners — even if they lead to rising prices domestically. Around a third, 32%, said they would only support tariffs if they do not increase prices.
The report on China’s gross domestic product was released as the U.S. took stock of the latest inflation figures, which showed that Trump’s tariffs were starting to push up prices. Prices of the products most exposed to tariffs, like household furnishings, jumped significantly in June.
China reported a better-than-expected economic growth as the world’s second largest economy took advantage of a trade truce with the US amid President Donald Trump’s tariff offensive.
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External demand continues to support Chinese economic growth, as the first-half trade surplus surged to a new high of $586bn.
The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.
China's economy slowed slightly in the last quarter as President Donald Trump’s trade war escalated, but it still expanded at a robust 5.2% pace, the government said Tuesday. That compares with 5.4% annual growth in January-March.
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China has reported its exports accelerated in June as a reprieve on U.S. tariffs prompted a rush of orders by companies and consumers.