China's economic growth cools further amid US tariff war

16 Juillet, 2019, 13:06 | Auteur: Auguste Feret
  • Chart Showing Outlook For Global Economy in 2019

President Donald Trump tweeted about the sluggishness of China's economy on Monday.

Recording six-point-three percent growth in the first half of 2019, . the official said China has laid a good foundation for achieving its full-year target, which is between six and six-point-five percent.

"A stronger end to the quarter didn't prevent growth from slowing in Q2 and we see more weakness on the horizon", economists with research firm Capital Economics said in a note. US tariffs and uncertainty around trade negotiations weighed on growth.

Trump added in a tweet that the United States was receiving billions of dollars in tariffs from China, with "possibly more to come".

Both China and the United States wanted to reach a trade deal, not China alone, Geng said.

The United States now has imposed tariffs of 25 percent on $250 billion of Chinese goods.

The Trump administration is seeking to reach a deal with the Chinese regime that requires Beijing to address longstanding unfair trade practices, including theft of US intellectual property, forced technology transfer, and currency manipulation.

Meanwhile, the Chinese embassy in Washington, and Ambassador Cui Tiankai, have launched their own separate Twitter accounts, keen to amp up visibility in the US capital for Beijing's views on the trade talks, Taiwan and other issues.

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Indeed, Chinese exports to the USA dropped by more than 8 percent over the year previous to the first second report.

That agreement, announced after the leaders met in Osaka, Japan, was aimed at kickstarting stalled negotiations, but no deadline has been set for the process to conclude.

Hu Xijin, editor of the widely-read Chinese tabloid Global Times, published by the ruling Communist Party's official People's Daily, responded on Twitter to Trump's comment, asking if it was "noble for a president to gloat".

During the last detente in December, China had committed to buying over 20 million tons of USA soy, pork and corn.

U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019. "Economic growth faces new downward pressure". "I used to say he's a good friend of mine, probably not quite as close now", Trump told reporters Monday at the White House.

The tariff war showed another sign of impacting the Chinese economy.

"From trade and investment to technology, China is contributing more and more positive energy to global development", it said in a commentary.

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