China growth slows as trade turmoil weighs on economy
Summary
China's economic growth slowed due to trade issues with the U.S. and ongoing challenges in its property market. The economy grew by 5.2% in the three months ending in June, slightly less than the previous quarter.Key Facts
- China's economy grew by 5.2% from April to June compared to the previous year.
- The growth rate is down from 5.4% in the earlier quarter of the year.
- Trade tensions with the U.S., involving high tariffs, are impacting the economy.
- The U.S. and China have imposed high tariffs on each other's goods, over 100%.
- President Trump set a deadline of August 12 for a long-term trade deal with China.
- Economists predict China might not meet its "around 5%" growth target this year.
- A major trade dispute led to the U.S. imposing a 145% tariff on Chinese goods.
- China responded with a 125% tariff on certain U.S. products.
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