China’s economy grows at steady pace despite Trump’s trade war
Summary
China's economy grew over 5% in the second quarter of the year, according to official reports. This growth keeps China on track to meet its yearly economic target, despite ongoing trade tensions with the United States.Key Facts
- China's economy grew by more than 5% in the second quarter.
- From April to June, China's GDP increased by 1.1%.
- For the first half of the year, China's economy grew by 5.3% on an annualized basis.
- The growth aligns with China's full-year target of about 5%.
- Exports from China increased by 5.8% in June compared to the previous year.
- There is ongoing trade tension with the US, including tariffs on each other's goods.
- A temporary trade agreement between the US and China reduced some tariffs for 90 days.
- The trade deal deadline to renew or make a new agreement is August 12.
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