Trump asserts China’s economy feeling his tariff pressure
WASHINGTON (AP) — President Donald Trump says China’s economy is feeling the pressure of his tariffs, and he thinks a “big and very comprehensive deal” could happen.
Trump asserts in a tweet that China’s economy is “growing much slower than anticipated because of our Trade War.”
China on Friday reported underwhelming gains in monthly retail sales and industrial production, which could be a possible consequence of the Trump administration’s import taxes against China.
But China also is engaged in a broader slowdown, after a decades-long boom, in hopes of boosting consumer demand and fostering a sustainable level of continued growth.
Also Friday, China announced a 90-day suspension of tariff increases on $126 billion of U.S. cars, trucks and auto parts following its trade truce with Washington.