China, Trade
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New bank lending in China rose less than expected in May after hitting a nine-month low in April, as companies and consumers remained cautious about taking on more debt despite interest rate cuts and a trade truce between Beijing and Washington.
Chinese state media say that the U.S. and China have agreed in principle on a framework to resolve their trade disputes.
While Donald Trump hailed the outcome of trade talks in London, Xi Jinping walked away with an understated strategic gain: a negotiating process that buys China time and helps defuse the threat of more harmful tariffs and technology curbs.
China will only be renewing contracts for its rare earths six months at a time, making rolling trade negotiations more likely, The Wall Street Journal reported.
Here are all the tariffs, counter-tariffs, dealmaking, and deal-breaking between the world’s two biggest economies.
US stock futures wavered as Wall Street digested the latest progress on US-China trade negotiations and braced for the release of the May inflation report.
Officials from the world’s largest economies will try to strike a deal Tuesday to relax painful export restrictions that they have imposed on each other.