Amid rising trade tensions with the United States, China's economy continued to slow down in the second quarter, with growth dropping to its lowest level in 27 years, Chinese officials announced Monday.
The economy grew 6.2 percent between April and June compared to a year earlier, matching estimates. In June, retail sales went up 9.8. percent and factory output rose 6.3 percent, while investment gained 5.8 percent during the first half of the year.
Following President Trump's decision to impose more tariffs on Chinese goods, exports to the U.S. fell 7.8 percent in June compared to a year ago. Representatives from the U.S. and China are still trying to craft a trade deal between the two countries.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The pros and cons of buying a new-build housethe explainer Repairs and maintenance will be minimal on a brand new build — but moving into an existing home can be easier upfront
-
Mexico’s forced disappearancesUnder the Radar 130,000 people missing as 20-year war on drugs leaves ‘the country’s landscape ever more blood-soaked’
-
The Week contest: Racoon’s regretsPuzzles and Quizzes
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Is Trump's tariffs plan working?Today's Big Question Trump has touted 'victories', but inflation is the 'elephant in the room'
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
