The Trump administration’s trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries’ imports are still slated to take effect Aug. 1 as scheduled.

The hope, and the expectation, is that when U.S. officials meet their Chinese counterparts in Stockholm to talk economics and trade next week, they will build on a recent lessening of tensions as the U.S. tries to set up a fall meeting between the countries’ leaders and lay the groundwork for another loosely defined trade pact.

China’s budget deficit climbed to a fresh record in the first half, highlighting intensified government efforts to shore up domestic demand as Donald Trump’s tariffs reduce exports to the US.

Who pays for these tariffs? Most economists reckon that ordinary Americans will lose out, as prices in shops rise. Mr Trump and his coterie, by contrast, blithely insist that the rest of the world will shoulder the load by cutting their selling prices. So far, the evidence is giving the know-nothings a glimmer of hope.

French spirits maker Remy Cointreau reported its first quarter of sales growth since early 2023 and raised its full-year profit guidance on Friday after damaging Chinese tariffs were reduced.

For the third time in as many months, US and Chinese officials will meet in Europe for trade talks — and this time, Beijing is arriving at the negotiating table more emboldened than ever.

Over the first half of 2025, China's exports to the world grew nearly 6% from a year earlier, defying expectations of a broad slowdown.

U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the deadline for negotiating a trade deal, U.S. Treasury Secretary Scott Bessent said on Tuesday as President Donald Trump announced a deal with the Philippines and released terms of a previous deal with Indonesia.

On April 9, with the stock market enduring a mini-crash, Donald Trump placed a 90-day pause on reciprocal tariffs for all countries save China. This 90-day pause is what ignited the strongest single-day point gains in the history of the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average.

Industrial profits dropped 4.3% last month from a year earlier, after a contraction of 9.1% in May, according to data released Sunday by the National Bureau of Statistics. That took the decrease in the first half of this year to 1.