Germany’ s economy is stalled or shrinking, signs years of declining unemployment may be ending.
Exports to the US declined 6.5% to US$38.8 billion, China’s global trade surplus widened by 60% over a year ago to $45.1 billion.
Uncertainty leads companies to postpone plans to invest, expand and hire, trends that can trigger a severe economic downturn.
A weaker yuan might disrupt Chinese efforts to shore up cooling economic growth.
ADP and Institute for Supply Management report manufacturing activity and job growth have slowed.
US to impose 10% tariffs Sept. 1 on the remaining $300 billion in Chinese imports.
Trump is tweeting his frustration as negotiations between the countries resume.
Export curbs threatened Huawei’s smartphone sales by disrupting access to the Android operating system supplied by Alphabet Inc.’s Google unit.
Beijing blocked imports of U.S. soybeans and raised tariffs on other farm products in response to Trump’s duty increases on Chinese goods.
Trump said he would hold off for the “time being” on plans to impose tariffs on US$300 billion more in Chinese imports.
The sides are at an impasse after 11 rounds of talks.
Trump and Xi are due to meet at a summit of the Group of 20, but it’s unclear when negotiating teams will resume talks.
US companies warn that the additional tariffs would drive up prices for consumers.
Mexican and U.S. officials reached an accord late Friday that calls on Mexico to crackdown on migrants in exchange for Trump backing off his tariff threat.
Business confidence has been shaken but Asia tech trade group lifting research co-op restriction on Huawei employees.