Index of activity drops to lowest reading since December 2023 as a result of ‘sharp changes’ in international trading
China’s factory activity slowed in April, with Beijing blaming “sharp changes” in the global economy as it fights a widening trade war with the US.
Punishing tariffs introduced by Donald Trump that reached 145% on many Chinese products came into force in April, and Beijing responded with 125% duties on imports from the US. Chinese exports soared more than 12% last month as businesses rushed to get ahead of the punishing tariffs.
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