China’s trade has hit its first significant speed bump since May, with the latest data revealing a drop in cargo throughput at the nation’s ports. Last week, the number of containers processed fell to 6.2 million, marking a 7 per cent decline from the previous week and the lowest figure since the second week of May. This slowdown signals that the historic trade volumes seen in May and June, when over 30 million containers were processed per month, may be starting to lose momentum.While May and June marked a high point for China’s trade, driven by a push to get ahead of US tariffs under US President Donald Trump’s trade war, analysts suggest that this burst of activity may now be winding down. Tariff concerns, particularly the ongoing threat of 50 per cent duties on Chinese goods, continue to weigh on trade as the US negotiates deals with other global partners, such as the European Union and Japan.<h2>Impact of US-China tariffs on exports and imports</h2>China’s trade with the US has been significantly impacted by the tariff uncertainty, especially in the first half of 2025. The US imposed various tariffs, including rates of up to 145 per cent at one point, reducing the volume of Chinese goods entering the US. In response, countries like those in ASEAN and the EU have become increasingly important trading partners, mitigating the losses in the US-bound shipments.Despite the decline in exports to the US, domestic trade has remained resilient. According to the Ministry of Transport, China’s ports handled a total cargo throughput of 8.9 billion tonnes in the first half of 2025, a 4 per cent year-on-year increase. Domestic logistics rose by 5 per cent, while foreign trade grew by 1.8 per cent. The growth in container throughput, which reached 170 million TEU (twenty-foot equivalent units), up 6.9 per cent from the previous year, suggests that China’s domestic economy is largely sustaining itself amid global uncertainties.<h2>Geopolitical tensions and the broader impact on logistics</h2>Alongside the tariff-induced slowdown, China’s broader logistics sector continues to show resilience. The total value of social logistics in the first half of 2025 grew by 5.6 per cent to reach 171.3 trillion yuan ($23.86 trillion), highlighting the strength of domestic demand. Industrial logistics, in particular, rose by 5.8 per cent, driven by strong demand in sectors like high-tech manufacturing and equipment production. The rebound in bulk commodity imports, such as crude oil and semiconductor chips, further indicates a diversified and robust logistics ecosystem.However, the ripple effects of tariff uncertainties remain, especially in light of the US potentially imposing new tariffs. The slowdown in cargo throughput and shifting global trade patterns suggest that China's trade landscape is evolving, with the longer-term impact of tariff policies still unfolding.

While May and June marked a high point for China’s trade, driven by a push to get ahead of US tariffs under US President Donald Trump’s trade war, analysts suggest that this burst of activity may now be winding down.

China’s trade has hit its first significant speed bump since May, with the latest data revealing a drop in cargo throughput at the nation’s ports. Last week, the number of containers processed fell to 6.2 million, marking a 7 per cent decline from the previous week and the lowest figure since the second week of May. This slowdown signals that the historic trade volumes seen in May and June, when over 30 million containers were processed per month, may be starting to lose momentum. While May and June marked a high point for China’s trade, driven by a push to get ahead of US tariffs under US President Donald Trump’s trade war, analysts suggest that this burst of activity may now be winding down. Tariff concerns, particularly the ongoing threat of 50 per cent duties on Chinese goods, continue to weigh on trade as the US negotiates deals with other global partners, such as the European Union and Japan. Impact of US-China tariffs on exports and imports China’s trade with the US has been significantly impacted by the tariff uncertainty, especially in the first half of 2025. The US imposed various tariffs, including rates of up to 145 per cent at one point, reducing the volume of Chinese goods entering the US. In response, countries like those in ASEAN and the EU have become increasingly important trading partners, mitigating the losses in the US-bound shipments. Despite the decline in exports to the US, domestic trade has remained resilient. According to the Ministry of Transport, China’s ports handled a total cargo throughput of 8.9 billion tonnes in the first half of 2025, a 4 per cent year-on-year increase. Domestic logistics rose by 5 per cent, while foreign trade grew by 1.8 per cent. The growth in container throughput, which reached 170 million TEU (twenty-foot equivalent units), up 6.9 per cent from the previous year, suggests that China’s domestic economy is largely sustaining itself amid global uncertainties. Geopolitical tensions and the broader impact on logistics Alongside the tariff-induced slowdown, China’s broader logistics sector continues to show resilience. The total value of social logistics in the first half of 2025 grew by 5.6 per cent to reach 171.3 trillion yuan ($23.86 trillion), highlighting the strength of domestic demand. Industrial logistics, in particular, rose by 5.8 per cent, driven by strong demand in sectors like high-tech manufacturing and equipment production. The rebound in bulk commodity imports, such as crude oil and semiconductor chips, further indicates a diversified and robust logistics ecosystem. However, the ripple effects of tariff uncertainties remain, especially in light of the US potentially imposing new tariffs. The slowdown in cargo throughput and shifting global trade patterns suggest that China's trade landscape is evolving, with the longer-term impact of tariff policies still unfolding.

While May and June marked a high point for China’s trade, driven by a push to get ahead of US tariffs under US President Donald Trump’s trade war, analysts suggest that this burst of activity may now be winding down.

China’s trade faces first setback since record-breaking highs

US China Trade War: Trump delays Tariff hike on Chinese Goods

Trump delays Tariff hike on Chinese Goods

<a href="https://www.wionews.com/world/china-raises-tariffs-on-us-goods-amid-esclating-tensions-223347">China will fight back against the latest US&nbsp;step to increase tariffs on Chinese goods,</a> the ruling Communist Party's People's Daily said on Sunday amid an escalating trade war between the world's two largest economies.

"China is confident that it will follow its own path and do its own things well, and will never waiver in its stand on countering any provocations by the US side," the newspaper said in a commentary.

US politicians, seeking to hamper<a href="https://www.wionews.com/world/china-desperate-to-reach-trade-deal-with-us-totally-misleading-foreign-ministry-236382"> China's economic development</a>, still want to use the tactics of exerting maximum pressure on China that has achieved few results, the paper said.

The United States will not win the trade war because of the plight faced by its farmers and businesses, it said.

China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences if it does not end its "wrong actions".

US President Donald Trump announced on Friday that Washington will impose an additional 5 per cent duty on the Chinese goods, hours after Beijing announced its latest retaliatory tariffs on about $75 billion worth of US&nbsp;goods in the latest tit-for-tat moves in their bilateral trade dispute.

The intensifying US-China trade war stoked worries about a global economic recession.

China will fight back against the latest US step to increase tariffs on Chinese goods, the ruling Communist Party's People's Daily said on Sunday amid an escalating trade war between the world's two largest economies.

China will fight back against the latest US step to increase tariffs on Chinese goods, the ruling Communist Party's People's Daily said on Sunday amid an escalating trade war between the world's two largest economies. "China is confident that it will follow its own path and do its own things well, and will never waiver in its stand on countering any provocations by the US side," the newspaper said in a commentary. US politicians, seeking to hamper China's economic development, still want to use the tactics of exerting maximum pressure on China that has achieved few results, the paper said. The United States will not win the trade war because of the plight faced by its farmers and businesses, it said. China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences if it does not end its "wrong actions". US President Donald Trump announced on Friday that Washington will impose an additional 5 per cent duty on the Chinese goods, hours after Beijing announced its latest retaliatory tariffs on about $75 billion worth of US goods in the latest tit-for-tat moves in their bilateral trade dispute. The intensifying US-China trade war stoked worries about a global economic recession.

China to fight back against US tariff move: Report

California almond grower Jake Wenger is heading into this year's harvest with a 'big question mark' over the impact of India's retaliatory trade tariffs on US goods, including almonds, which took effect in June. The fourth-generation farmer said he felt little impact from last year's increase in duties levied by China on almonds, which was in retaliation against US President Donald Trump's plans to slap tariffs on up to $60 billion in Chinese goods. The reason, he says, was that much of the US almond crop was redirected to India.

Impact of India almond tariffs a 'big question mark' for California farmers

Washington is planning <a href="https://www.wionews.com/world/will-slap-huge-new-tariffs-on-china-if-president-xi-doesnt-show-up-trump-ahead-of-g20-meeting-226081">another tidal wave of tariffs on Chinese imports</a> that represent a worst-case scenario for markets and major industries on both sides of the Pacific.

And on Monday, seven days of public hearings are due to begin as major businesses issue their loudest warnings yet about layoffs, lost business and America's waning industrial predominance.

Some industries, such as steel and aluminum producers, have benefitted from President Donald Trump's trade policies and strongly support tariffs.

But the lion's share so far are pleading with his administration to spare the imports they depend on -- if not to step back from the brink of an unprecedented all-out trade conflict that economists say would prove dire for global growth.

Should they take effect, the newest $300 billion round of tariffs -- which follow last month's sudden crackup in trade negotiations with Beijing -- would mean stinging duties cover just about all of the more than half trillion dollars in goods that Americans buy from China every year.

Major trade bodies share Trump's principle grievances with Beijing, accusing it of rampant industrial espionage and massive state intervention in markets.

But in a letter to Trump on Thursday, hundreds of US companies large and small, including retail giants Target and Walmart, warned Trump the new tariff round could cost two million jobs and cut US GDP growth by a full percentage point.

Watch:&nbsp;India imposes retaliatory tariffs on 28 US goods

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-imposes-retaliatory-tariffs-on-28-us-goods-227482/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

So far, Trump has imposed tariffs on more than $250 billion in Chinese goods but this has spared most consumer items from major price increases.

Still, William Reinsch, a trade policy expert at the Center for Strategic and International Studies, told AFP the new tariffs were likely to pinch ordinary consumers far more.&nbsp;

"Unlike the previous times, I think there'll be a sharp negative reaction from the public," he said.&nbsp;

"If these things go into effect in July, what you're going to see is fairly immediate price increases on a whole bunch of things right at the point where people are gearing up to shop for the fall season, for winter clothes and for Christmas."

Trump has pinned hopes for resolving the impasse on a planned meeting with his Chinese counterpart Xi Jinping later this month at the Group of 20 summit in Japan.

America makes no tea

Should Xi fail to attend, Trump told CNBC this week, he could impose the new tariffs "immediately" -- although the period for public comment on the tariffs extends beyond the conclusion of the summit.

At the hearings, more than 300 people are scheduled to testify. And the US Trade Representative's office has collected more than 1,200 written comments and requests to appear in person.

"We are not able to quickly or simply shift all manufacturing to other sourcing countries, resulting in price increases for the average US consumer," wrote Patrice Louvet, CEO of Ralph Lauren Corporation. "This ultimately undermines American competitiveness."

Oilfield services giant Halliburton warned of job cuts and decreased US oil-and-gas exploration if duties rise to 25 per cent on barite, a key mineral used in drilling fluids for which China has the world's largest reserves.

Smaller businesses also came forward.&nbsp;

"We would like it to be known that the retail segment of the economy is preparing for a big hit and pray that the present administration consults God," said an anonymous retailer in western Kentucky that imports outdoor seating and artificial Christmas trees, among other items, but supported Trump's trade policies overall.

Lu Yu, vice president of the China Chamber of Commerce of Food Stuffs, Native Produce and Animal Byproducts, said putting tariffs on Chinese tea made no sense.

"The USA is not a tea producing country," she wrote.

"The tea industry of the USA does not need to be protected by tariffs and there is not any tea grower or group that would be protected."

Trump's departing chief economist Kevin Hassett told CNBC on Friday the possible Trump-Xi meeting at the G20 summit could yield rapid improvements.

"I think the hope is that at the G20 meeting the two presidents can get together to start to get closer to where we were a few months ago where we really, really close to having a deal," he said.

But Trump's commerce secretary, Wilbur Ross, told the Wall Street Journal on Sunday he thinks "the most that will come out of the G-20 might be an agreement to actively resume talks."

"At the presidential level they're not going to talk about the details of how do you enforce a trade agreement," Ross said.

And the spectre of such a massive hit to consumers' wallets holds political peril for Trump.&nbsp;

Polling last month by Monmouth and Quinnipiac universities showed majorities disapproved of Trump's trade policies and expected his tariffs to raise prices.

Reinsch of CSIS said Trump was left with a dilemma, as Beijing was not likely to meet his toughest demands.

"The president has a choice: accept a weaker agreement or continue the war," he said, adding that either outcome would leave him vulnerable to attacks from Democrats.&nbsp;

"I don't see a clean way out of this."

Washington is planning another tidal wave of tariffs on Chinese imports that represent a worst-case scenario for markets and major industries on both sides of the Pacific.

Washington is planning another tidal wave of tariffs on Chinese imports that represent a worst-case scenario for markets and major industries on both sides of the Pacific. And on Monday, seven days of public hearings are due to begin as major businesses issue their loudest warnings yet about layoffs, lost business and America's waning industrial predominance. Some industries, such as steel and aluminum producers, have benefitted from President Donald Trump's trade policies and strongly support tariffs. But the lion's share so far are pleading with his administration to spare the imports they depend on -- if not to step back from the brink of an unprecedented all-out trade conflict that economists say would prove dire for global growth. Should they take effect, the newest $300 billion round of tariffs -- which follow last month's sudden crackup in trade negotiations with Beijing -- would mean stinging duties cover just about all of the more than half trillion dollars in goods that Americans buy from China every year. Major trade bodies share Trump's principle grievances with Beijing, accusing it of rampant industrial espionage and massive state intervention in markets. But in a letter to Trump on Thursday, hundreds of US companies large and small, including retail giants Target and Walmart, warned Trump the new tariff round could cost two million jobs and cut US GDP growth by a full percentage point. Watch: India imposes retaliatory tariffs on 28 US goods So far, Trump has imposed tariffs on more than $250 billion in Chinese goods but this has spared most consumer items from major price increases. Still, William Reinsch, a trade policy expert at the Center for Strategic and International Studies, told AFP the new tariffs were likely to pinch ordinary consumers far more. "Unlike the previous times, I think there'll be a sharp negative reaction from the public," he said. "If these things go into effect in July, what you're going to see is fairly immediate price increases on a whole bunch of things right at the point where people are gearing up to shop for the fall season, for winter clothes and for Christmas." Trump has pinned hopes for resolving the impasse on a planned meeting with his Chinese counterpart Xi Jinping later this month at the Group of 20 summit in Japan. America makes no tea Should Xi fail to attend, Trump told CNBC this week, he could impose the new tariffs "immediately" -- although the period for public comment on the tariffs extends beyond the conclusion of the summit. At the hearings, more than 300 people are scheduled to testify. And the US Trade Representative's office has collected more than 1,200 written comments and requests to appear in person. "We are not able to quickly or simply shift all manufacturing to other sourcing countries, resulting in price increases for the average US consumer," wrote Patrice Louvet, CEO of Ralph Lauren Corporation. "This ultimately undermines American competitiveness." Oilfield services giant Halliburton warned of job cuts and decreased US oil-and-gas exploration if duties rise to 25 per cent on barite, a key mineral used in drilling fluids for which China has the world's largest reserves. Smaller businesses also came forward. "We would like it to be known that the retail segment of the economy is preparing for a big hit and pray that the present administration consults God," said an anonymous retailer in western Kentucky that imports outdoor seating and artificial Christmas trees, among other items, but supported Trump's trade policies overall. Lu Yu, vice president of the China Chamber of Commerce of Food Stuffs, Native Produce and Animal Byproducts, said putting tariffs on Chinese tea made no sense. "The USA is not a tea producing country," she wrote. "The tea industry of the USA does not need to be protected by tariffs and there is not any tea grower or group that would be protected." Trump's departing chief economist Kevin Hassett told CNBC on Friday the possible Trump-Xi meeting at the G20 summit could yield rapid improvements. "I think the hope is that at the G20 meeting the two presidents can get together to start to get closer to where we were a few months ago where we really, really close to having a deal," he said. But Trump's commerce secretary, Wilbur Ross, told the Wall Street Journal on Sunday he thinks "the most that will come out of the G-20 might be an agreement to actively resume talks." "At the presidential level they're not going to talk about the details of how do you enforce a trade agreement," Ross said. And the spectre of such a massive hit to consumers' wallets holds political peril for Trump. Polling last month by Monmouth and Quinnipiac universities showed majorities disapproved of Trump's trade policies and expected his tariffs to raise prices. Reinsch of CSIS said Trump was left with a dilemma, as Beijing was not likely to meet his toughest demands. "The president has a choice: accept a weaker agreement or continue the war," he said, adding that either outcome would leave him vulnerable to attacks from Democrats. "I don't see a clean way out of this."

US planning more tariffs on Chinese goods, represent worst scenario for both countries

&nbsp;The US&nbsp;President<a href="https://www.wionews.com/world/us-consumers-businesses-to-pay-for-tariffs-on-chinese-goods-expert-219096"> Donald&nbsp;Trump&nbsp;said his tariffs on Chinese goods </a>are causing companies to move production out of China to Vietnam and other countries in Asia and added that any agreement with China cannot be a "50-50" deal.

In an interview with Fox News Channel recorded last week and aired on Sunday night,&nbsp;Trump&nbsp;said that the United States and China "had a very strong deal, we had a good deal, and they changed it. And I said that's OK, we're going to tariff their products."

No further trade talks between top Chinese and US&nbsp;trade negotiators have been scheduled since the last round ended on May 10 - the same day&nbsp;Trump&nbsp;raised the tariff rate on $200 billion worth of Chinese products from 10 per cent.

Trump&nbsp;took the step after China soured the negotiations by seeking major changes to a deal that US&nbsp;officials said had been largely agreed.

Since then, China has struck a sterner tone in its rhetoric, suggesting that a resumption of talks aimed at ending the 10-month trade war between the world's two largest economies was unlikely to happen soon.

Trump, who said the interview with Fox News host Steve Hilton had taken place two days after he raised the tariffs, said he would be happy to simply keep tariffs on Chinese products because the United States would be taking in $100 billion or more in tariffs.

But he added that he believed that China would eventually make a deal with the United States "because they're getting killed with the tariffs, China' getting totally killed."

But he said that he had told<a href="https://www.wionews.com/world/there-is-no-clash-between-different-civilisations-says-president-xi-amid-us-china-trade-war-218993"> Chinese President Xi Jinping</a> before the most recent rounds of talks that any deal could not be "50-50" between the two countries and had to be more in favour of the United States because of past trade practices by China.

Trump&nbsp;also said that Democratic presidential candidate and former US vice president Joe Biden should be investigated over a conservative author's allegation that Biden's son Hunter Biden took advantage of his father's position to sign a lucrative business deal with state-controlled Bank of China. The allegation was made in Peter Schweizer's 2018 book "Secret Empires."

Asked if this should be investigated,&nbsp;Trump&nbsp;said,&nbsp;"100 per cent. It’s a disgrace and then (Joe Biden) says China’s not a competitor of ours. China is a massive competitor of ours. They want to take over the world."

The US President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia and added that any agreement with China cannot be a "50-50" deal.

The US President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia and added that any agreement with China cannot be a "50-50" deal. In an interview with Fox News Channel recorded last week and aired on Sunday night, Trump said that the United States and China "had a very strong deal, we had a good deal, and they changed it. And I said that's OK, we're going to tariff their products." No further trade talks between top Chinese and US trade negotiators have been scheduled since the last round ended on May 10 - the same day Trump raised the tariff rate on $200 billion worth of Chinese products from 10 per cent. Trump took the step after China soured the negotiations by seeking major changes to a deal that US officials said had been largely agreed. Since then, China has struck a sterner tone in its rhetoric, suggesting that a resumption of talks aimed at ending the 10-month trade war between the world's two largest economies was unlikely to happen soon. Trump, who said the interview with Fox News host Steve Hilton had taken place two days after he raised the tariffs, said he would be happy to simply keep tariffs on Chinese products because the United States would be taking in $100 billion or more in tariffs. But he added that he believed that China would eventually make a deal with the United States "because they're getting killed with the tariffs, China' getting totally killed." But he said that he had told Chinese President Xi Jinping before the most recent rounds of talks that any deal could not be "50-50" between the two countries and had to be more in favour of the United States because of past trade practices by China. Trump also said that Democratic presidential candidate and former US vice president Joe Biden should be investigated over a conservative author's allegation that Biden's son Hunter Biden took advantage of his father's position to sign a lucrative business deal with state-controlled Bank of China. The allegation was made in Peter Schweizer's 2018 book "Secret Empires." Asked if this should be investigated, Trump said, "100 per cent. It’s a disgrace and then (Joe Biden) says China’s not a competitor of ours. China is a massive competitor of ours. They want to take over the world."

Trump says tariffs making companies leave China, a deal can't be '50-50'

President Donald Trump is expected to sign an executive order this week barring U.S. companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on doing business with China’s Huawei. Watch full video to know more.

US President Donald Trump expected to sign order paving way for U.S. telecoms ban on Huawei

US officials listed $300 billion more of Chinese goods for possible tariff hikes while Beijing vowed Tuesday to "fight to the finish" in an escalating trade battle that is fuelling fears about damage to global economic growth.

China says it'll fight trade war 'to the finish'

The US has ordered tariff hikes on all imports from China. Watch the full video to know more.

US orders tariff hike on all imports from China

Top facts: How US-China talks differ from any other trade deal

US raises tariffs on Chinese import for goods worth $200 Bn. Watch this video for complete details.

US raises tariffs on Chinese import for goods worth $200 Bn

The rupee depreciated by 24 paise to 69.46 against the US dollar in early trade Monday on increased demand for the US currency from importers and weak opening in domestic equities.

Forex traders said, the US President Donald Trump on Sunday threatened to raise tariffs on $200 billion worth of Chinese goods and this, in turn, impacted investor sentiment in the currency market.

The rupee opened weak at 69.38 at the interbank forex market and then fell further to 69.46, down 24 paise over its last close. The local currency however pared the initial loss and was trading at 69.41 at 0926 hrs.

The rupee had strengthened by 15 paise to close at 69.22 against the US dollar Friday.

Besides, strength in dollar against major rival currencies, foreign fund outflows and heavy selling in domestic equities also kept the pressure on the Indian rupee, dealers said.

Meanwhile, foreign institutional investors (FIIs) pulled out Rs 400.68 crore on a net basis Friday, provisional data showed.

Domestic bourses opened on a negative note Monday with benchmark indices Sensex trading 362.11 points down at 38,601.15 and Nifty down 112.75 points at 11,599.50.

However, easing crude prices helped in restricting the slide in the Indian unit to some extent, they added.

Brent crude futures, the global oil benchmark, fell 2.22 per cent to $69.28 per barrel.

The rupee depreciated by 24 paise to 69.46 against the US dollar in early trade Monday on increased demand for the US currency from importers and weak opening in domestic equities.

The rupee depreciated by 24 paise to 69.46 against the US dollar in early trade Monday on increased demand for the US currency from importers and weak opening in domestic equities. Forex traders said, the US President Donald Trump on Sunday threatened to raise tariffs on $200 billion worth of Chinese goods and this, in turn, impacted investor sentiment in the currency market. The rupee opened weak at 69.38 at the interbank forex market and then fell further to 69.46, down 24 paise over its last close. The local currency however pared the initial loss and was trading at 69.41 at 0926 hrs. The rupee had strengthened by 15 paise to close at 69.22 against the US dollar Friday. Besides, strength in dollar against major rival currencies, foreign fund outflows and heavy selling in domestic equities also kept the pressure on the Indian rupee, dealers said. Meanwhile, foreign institutional investors (FIIs) pulled out Rs 400.68 crore on a net basis Friday, provisional data showed. Domestic bourses opened on a negative note Monday with benchmark indices Sensex trading 362.11 points down at 38,601.15 and Nifty down 112.75 points at 11,599.50. However, easing crude prices helped in restricting the slide in the Indian unit to some extent, they added. Brent crude futures, the global oil benchmark, fell 2.22 per cent to $69.28 per barrel.

Rupee slips 24 paise to 69.46 against US dollar

US President Donald Trump says the United States will raise tariffs on $200 billion of Chinese goods from 10 to 25 percent, complaining of a lack of progress in trade talks. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate.

US President Trump to hike tariffs on $200 bn of China goods

The United States and China appear close to a deal that would roll back US tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on US&nbsp;goods, a source briefed on negotiations said on Sunday.

US President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday.

In an eight-month trade war, the United States has imposed punitive tariffs on $250 billion worth of imports from China, while Beijing has hit back with tariffs on $110 billion worth of U.S. goods, including soybeans and other commodities. The actions have roiled financial markets, disrupted manufacturing supply chains and reduced U.S. farm exports.

Trump administration officials have said they expect the two presidents to "close" a deal at a summit in coming weeks at Trump's Mar-a-Lago estate in Florida.

The source briefed on the talks said that no dates for a summit had been determined, but that Beijing had reserved a 10-day window from around March 20 for a possible summit.

Many details still needed to be worked out, including the terms of an enforcement mechanism to ensure that Beijing follows through on pledges to make changes to policies to better protect US intellectual property, end forced technology transfers and curb industrial subsidies.

Another source familiar with the talks said that Washington and Beijing were close to agreement on non-enforcement issues, including China's pledges to increase purchases of farm, energy and manufactured products, as well as six agreements on structural policy changes.

The Wall Street Journal said that in the pending agreement, China would lower tariffs on US-made goods including agricultural products, chemicals and cars in exchange for sanctions relief from Washington, citing people briefed on the matter on both sides.

The newspaper's sources cautioned that hurdles remain, and each side faces possible resistance at home that the terms are too favourable to the other side.

As a part of the deal there would be an $18 billion purchase of natural-gas from Houston-based Cheniere Energy Inc, the report said.

Cheniere declined to comment on the potential for a new LNG supply deal with China, a spokesman said. It last year signed a 20-year deal to supply state-run Chinese National Petroleum Corp (CNPC) with natural gas from its Louisiana export terminal through 2043.

The United States is working to hammer out a detailed trade agreement with China that will include specific structural commitments, U.S. Treasury Secretary Steven Mnuchin told CNBC on Thursday.

Last week, Trump said the U.S. could walk away from a trade deal with China if it were not good enough, even as his economic advisers touted "fantastic" progress towards an agreement to end the dispute with Beijing.

Trump a week ago delayed a tariff increase on $200 billion in Chinese goods that was previously scheduled to take place on Saturday, citing progress in the talks.

The United States and China appear close to a deal that would roll back US tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on US goods, a source briefed on negotiations said on Sunday.

The United States and China appear close to a deal that would roll back US tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on US goods, a source briefed on negotiations said on Sunday. US President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday. In an eight-month trade war, the United States has imposed punitive tariffs on $250 billion worth of imports from China, while Beijing has hit back with tariffs on $110 billion worth of U.S. goods, including soybeans and other commodities. The actions have roiled financial markets, disrupted manufacturing supply chains and reduced U.S. farm exports. Trump administration officials have said they expect the two presidents to "close" a deal at a summit in coming weeks at Trump's Mar-a-Lago estate in Florida. The source briefed on the talks said that no dates for a summit had been determined, but that Beijing had reserved a 10-day window from around March 20 for a possible summit. Many details still needed to be worked out, including the terms of an enforcement mechanism to ensure that Beijing follows through on pledges to make changes to policies to better protect US intellectual property, end forced technology transfers and curb industrial subsidies. Another source familiar with the talks said that Washington and Beijing were close to agreement on non-enforcement issues, including China's pledges to increase purchases of farm, energy and manufactured products, as well as six agreements on structural policy changes. The Wall Street Journal said that in the pending agreement, China would lower tariffs on US-made goods including agricultural products, chemicals and cars in exchange for sanctions relief from Washington, citing people briefed on the matter on both sides. The newspaper's sources cautioned that hurdles remain, and each side faces possible resistance at home that the terms are too favourable to the other side. As a part of the deal there would be an $18 billion purchase of natural-gas from Houston-based Cheniere Energy Inc, the report said. Cheniere declined to comment on the potential for a new LNG supply deal with China, a spokesman said. It last year signed a 20-year deal to supply state-run Chinese National Petroleum Corp (CNPC) with natural gas from its Louisiana export terminal through 2043. The United States is working to hammer out a detailed trade agreement with China that will include specific structural commitments, U.S. Treasury Secretary Steven Mnuchin told CNBC on Thursday. Last week, Trump said the U.S. could walk away from a trade deal with China if it were not good enough, even as his economic advisers touted "fantastic" progress towards an agreement to end the dispute with Beijing. Trump a week ago delayed a tariff increase on $200 billion in Chinese goods that was previously scheduled to take place on Saturday, citing progress in the talks.

US and China said to appear close to deal to roll back tariffs

Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing "substantial progress" in trade talks and fuelling hopes of an end to their long-running stand-off.

Optimism over the negotiations had already provided support to global equities, spurring a rally in January and February, but the president's comments gave extra ammunition to investors to ramp up the buying.

The news also fired currency markets with the yuan extending gains to a seven-month high, while other high-yielding, riskier units were also up against the dollar.

Trump said on Twitter that the US "has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues".

He added: "As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1."

The president also said he planned to hold a summit with his Chinese counterpart Xi Jinping at his Mar-a-Lago estate in Florida to sign a deal.

China's Xinhua news agency added that the two sides had "made substantial progress on specific issues" including on transfer of technology, intellectual property and agriculture.

'Sigh of relief'&nbsp;

In morning trade, Shanghai jumped 2.8 per cent and Hong Kong added 0.4 per cent while Tokyo ended the morning 0.7 per cent higher.

Sydney and Singapore each put on 0.1 per cent, while Seoul was flat, Taipei added 0.4 per cent and Jakarta rose 0.3 per cent.

The gains in Asia followed another positive lead from Wall Street, where the Dow enjoyed its ninth straight weekly gain -- the longest streak since May 1995.

"This is a sigh of relief," said Ben Emons, managing director for global macro strategy at Medley Global Advisors. "Markets will still keep a level of caution, but this news is encouraging," he told Bloomberg TV.

The upbeat sentiment lifted high-risk currencies, with the yuan hitting its highest level against the dollar since July, while South Korea's won, the Australian dollar and the Indonesia rupiah were also well up.

Forex traders will be closely watching speeches this week from top Federal Reserve officials -- including chairman Jerome Powell's appearance in front of lawmakers -- hoping for clues about the bank's monetary policy plans.

Wall Street "will be looking for soothing comments about the future size of the balance sheet -- the bigger the better -- and insights into future rate hikes", said Jeffrey Halley, senior market analyst at OANDA.

Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing "substantial progress" in trade talks and fuelling hopes of an end to their long-running stand-off.

Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing "substantial progress" in trade talks and fuelling hopes of an end to their long-running stand-off. Optimism over the negotiations had already provided support to global equities, spurring a rally in January and February, but the president's comments gave extra ammunition to investors to ramp up the buying. The news also fired currency markets with the yuan extending gains to a seven-month high, while other high-yielding, riskier units were also up against the dollar. Trump said on Twitter that the US "has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues". He added: "As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1." The president also said he planned to hold a summit with his Chinese counterpart Xi Jinping at his Mar-a-Lago estate in Florida to sign a deal. China's Xinhua news agency added that the two sides had "made substantial progress on specific issues" including on transfer of technology, intellectual property and agriculture. 'Sigh of relief' In morning trade, Shanghai jumped 2.8 per cent and Hong Kong added 0.4 per cent while Tokyo ended the morning 0.7 per cent higher. Sydney and Singapore each put on 0.1 per cent, while Seoul was flat, Taipei added 0.4 per cent and Jakarta rose 0.3 per cent. The gains in Asia followed another positive lead from Wall Street, where the Dow enjoyed its ninth straight weekly gain -- the longest streak since May 1995. "This is a sigh of relief," said Ben Emons, managing director for global macro strategy at Medley Global Advisors. "Markets will still keep a level of caution, but this news is encouraging," he told Bloomberg TV. The upbeat sentiment lifted high-risk currencies, with the yuan hitting its highest level against the dollar since July, while South Korea's won, the Australian dollar and the Indonesia rupiah were also well up. Forex traders will be closely watching speeches this week from top Federal Reserve officials -- including chairman Jerome Powell's appearance in front of lawmakers -- hoping for clues about the bank's monetary policy plans. Wall Street "will be looking for soothing comments about the future size of the balance sheet -- the bigger the better -- and insights into future rate hikes", said Jeffrey Halley, senior market analyst at OANDA.

Asia markets rally as Trump delays China tariffs

<a href="http://www.wionews.com/world/is-china-buying-us-soy-washington-shutdown-keeps-traders-guessing-187225">China's factory activity </a>contracted in December for the first time in more than two years, in a further sign of slackening demand and rising pressure on the world's second-largest economy as it heads into 2019.

The official Purchasing Managers' Index (PMI) fell to 49.4 in December, below the critical 50-point level that separates growth from contraction, according to data released by the National Bureau of Statistics (NBS) on Monday.

It was the first contraction since July 2016 and the weakest PMI reading since February 2016 when it came in at 49.0. Analysts surveyed by Reuters had forecast the official gauge would fell to 49.9 for the month.

The increasing strain on factories signals a continued loss of economic momentum and raises the risks to both China and the global economy, especially if Sino-US trade tensions persist.

There are already signs that trade frictions between the economic giants are hurting global supply chains with concerns the effects could become more pronounced next year in a blow to world trade and investment.

Chinese authorities are expected to roll out more supportive measures on top of a range of policy initiatives this year. A prolonged downturn in the factory sector, key for jobs and the overall health of the economy, would likely draw further steps to juice up domestic demand.

There is also uncertainty over whether<a href="http://www.wionews.com/world/china-customs-gives-green-light-for-us-rice-imports-187045"> China and the United States</a> can bridge their differences during a temporary ceasefire in their trade war.

At the beginning of this month, US President Donald Trump and Chinese President Xi Jinping agreed to a 90-day ceasefire that delayed the planned Jan. 1 US increase of tariffs on $200 billion worth of Chinese goods while they negotiate a trade deal.

New export orders contracted for a seventh straight month on faltering external demand, with the sub-index falling to 46.6 from the previous month's reading of 47.0.

"There are many short-term orders from overseas but few long-term orders received by Chinese factories as caution remains amid the trade uncertainties," Nie Wen, an economist at Hwabao Trust in Shanghai, said before the PMI release.

"The medium to long-term export prospect is not optimistic particularly."

In contrast, the factor activity gauge, the official non-manufacturing PMI, also released on Monday, rose to 53.8 from 53.4 in November, well above the 50-point mark that separates growth from contraction.

The services sector accounts for more than half of China's economy, with rising wages giving Chinese consumers more spending power. But consumer demand and confidence have been faltering recently in a sign of growing pressure on the economy.

China's factory activity contracted in December for the first time in more than two years, in a further sign of slackening demand and rising pressure on the world's second-largest economy as it heads into 2019.

China's factory activity contracted in December for the first time in more than two years, in a further sign of slackening demand and rising pressure on the world's second-largest economy as it heads into 2019. The official Purchasing Managers' Index (PMI) fell to 49.4 in December, below the critical 50-point level that separates growth from contraction, according to data released by the National Bureau of Statistics (NBS) on Monday. It was the first contraction since July 2016 and the weakest PMI reading since February 2016 when it came in at 49.0. Analysts surveyed by Reuters had forecast the official gauge would fell to 49.9 for the month. The increasing strain on factories signals a continued loss of economic momentum and raises the risks to both China and the global economy, especially if Sino-US trade tensions persist. There are already signs that trade frictions between the economic giants are hurting global supply chains with concerns the effects could become more pronounced next year in a blow to world trade and investment. Chinese authorities are expected to roll out more supportive measures on top of a range of policy initiatives this year. A prolonged downturn in the factory sector, key for jobs and the overall health of the economy, would likely draw further steps to juice up domestic demand. There is also uncertainty over whether China and the United States can bridge their differences during a temporary ceasefire in their trade war. At the beginning of this month, US President Donald Trump and Chinese President Xi Jinping agreed to a 90-day ceasefire that delayed the planned Jan. 1 US increase of tariffs on $200 billion worth of Chinese goods while they negotiate a trade deal. New export orders contracted for a seventh straight month on faltering external demand, with the sub-index falling to 46.6 from the previous month's reading of 47.0. "There are many short-term orders from overseas but few long-term orders received by Chinese factories as caution remains amid the trade uncertainties," Nie Wen, an economist at Hwabao Trust in Shanghai, said before the PMI release. "The medium to long-term export prospect is not optimistic particularly." In contrast, the factor activity gauge, the official non-manufacturing PMI, also released on Monday, rose to 53.8 from 53.4 in November, well above the 50-point mark that separates growth from contraction. The services sector accounts for more than half of China's economy, with rising wages giving Chinese consumers more spending power. But consumer demand and confidence have been faltering recently in a sign of growing pressure on the economy.

China's factory activity falls for first time in over 2 years: Report

President Trump's additional $200 billion tariffs on Chinese goods began to take effect on Monday as the trade war between the two economic powers continued to escalate.

<a href="http://www.wionews.com/world/apple-products-spared-in-trumps-new-tariffs-list-cloud-services-hit-166300">Also </a><a href="http://www.wionews.com/world/apple-products-spared-in-trumps-new-tariffs-list-cloud-services-hit-166300">Read:</a><a href="http://www.wionews.com/world/apple-products-spared-in-trumps-new-tariffs-list-cloud-services-hit-166300">&nbsp;Apple products spared in Trump's new tariffs list; cloud services hit</a>

China has decided to retaliate with $60 billion in tariffs&nbsp;on American goods totalling $110 billion with Trump administration's tariffs set to bite the Chinese economy.

The two countries have already slapped tariffs on $50 billion worth of each other's goods earlier this year.

The US administration will levy tariffs of 10 per cent on the $200 billion of Chinese products, with the tariffs to go up to 25 per cent by the end of 2018.

The US has targeted Chinese-made voice data receivers, computer memory modules, automatic data processors, and accessories for office equipment such as copiers and banknote dispensers in the latest round of tariffs.

The US administration has however spared Apple and Fitbit products child safety products such as high chairs, car seats and playpens, and certain health-and-safety products such as bicycle helmets, US officials said.

Beijing set its new levies on $60 billion of US goods at 5 and 10 per cent and warned it would respond to any rise in US tariffs on Chinese products accordingly.

China on its part has refused to send its negotiator Vice Premier Liu He for trade negotiation with Trump ramping up tariffs on China and threatening to impose even more duties. Last week Trump had threatened to impose tariffs on virtually all goods if China did not adhere to Washington's demands which include cut trade deficit with China and buy more from US farmers and manufacturers.

Meanwhile, rating agency Fitch has cut growth estimates for China next year.

"Should the escalation go further, the economic costs for both countries and around the world will quickly add up," IMF spokesman Gerry Rice had said last week.

 
&nbsp;

President Trump's additional $200 billion tariffs on Chinese goods began to take effect on Monday as the trade war between the two economic powers continued to escalate.

President Trump's additional $200 billion tariffs on Chinese goods began to take effect on Monday as the trade war between the two economic powers continued to escalate. Also Read: Apple products spared in Trump's new tariffs list; cloud services hit China has decided to retaliate with $60 billion in tariffs on American goods totalling $110 billion with Trump administration's tariffs set to bite the Chinese economy. The two countries have already slapped tariffs on $50 billion worth of each other's goods earlier this year. The US administration will levy tariffs of 10 per cent on the $200 billion of Chinese products, with the tariffs to go up to 25 per cent by the end of 2018. The US has targeted Chinese-made voice data receivers, computer memory modules, automatic data processors, and accessories for office equipment such as copiers and banknote dispensers in the latest round of tariffs. The US administration has however spared Apple and Fitbit products child safety products such as high chairs, car seats and playpens, and certain health-and-safety products such as bicycle helmets, US officials said. Beijing set its new levies on $60 billion of US goods at 5 and 10 per cent and warned it would respond to any rise in US tariffs on Chinese products accordingly. China on its part has refused to send its negotiator Vice Premier Liu He for trade negotiation with Trump ramping up tariffs on China and threatening to impose even more duties. Last week Trump had threatened to impose tariffs on virtually all goods if China did not adhere to Washington's demands which include cut trade deficit with China and buy more from US farmers and manufacturers. Meanwhile, rating agency Fitch has cut growth estimates for China next year. "Should the escalation go further, the economic costs for both countries and around the world will quickly add up," IMF spokesman Gerry Rice had said last week.

Fresh $200 billion US tariffs on Chinese goods take effect

The sale of Chinese goods like lights, gift items, lamps and wall hangings may decline by 40-45 per cent this Diwali as compared to last year as Indians are likely to prefer domestic products like earthen diyas (lamps), according to a report.

Chinese products had recorded a 30 per cent decline in sales last year on Diwali, the festival of lights.

A survey by Assocham-Social Development Foundation mapped responses of wholesalers, retailers, traders in cities of Ahmedabad, Bengaluru, Bhopal, Chennai, Dehradun, Delhi, Hyderabad, Jaipur, Lucknow and Mumbai to estimate the demand for Chinese products across India.

&quot;There seems to be a decline of about 40-45 per cent in consumption of Chinese products on this Diwali in comparison to last year. Chinese items that are most sought fancy lights, lampshades, Ganesha and Laxmi idols, rangolis and crackers etc. As per the findings, this Diwali, people are preferring Indian products over Chinese goods,&quot; Assocham said.

According to the survey, the demand of electronic items like LCDs, mobile phones and other items made in China has also declined by 15-20 per cent.

Shopkeepers who took part in the survey said most of the customers are demanding Indian lights or earthen diyas.

According to an estimate, the value of Chinese goods sold in 2016 during Diwali was around Rs 6,500 crore, out of which Rs 4,000 crore was for products such as toys, fancy lights, gift items, plastic ware, decorative goods etc.&nbsp;

Chinese products had recorded a 30 per cent decline in sales last year on Diwali

The sale of Chinese goods like lights, gift items, lamps and wall hangings may decline by 40-45 per cent this Diwali as compared to last year as Indians are likely to prefer domestic products like earthen diyas (lamps), according to a report. Chinese products had recorded a 30 per cent decline in sales last year on Diwali, the festival of lights. A survey by Assocham-Social Development Foundation mapped responses of wholesalers, retailers, traders in cities of Ahmedabad, Bengaluru, Bhopal, Chennai, Dehradun, Delhi, Hyderabad, Jaipur, Lucknow and Mumbai to estimate the demand for Chinese products across India. "There seems to be a decline of about 40-45 per cent in consumption of Chinese products on this Diwali in comparison to last year. Chinese items that are most sought fancy lights, lampshades, Ganesha and Laxmi idols, rangolis and crackers etc. As per the findings, this Diwali, people are preferring Indian products over Chinese goods," Assocham said. According to the survey, the demand of electronic items like LCDs, mobile phones and other items made in China has also declined by 15-20 per cent. Shopkeepers who took part in the survey said most of the customers are demanding Indian lights or earthen diyas. According to an estimate, the value of Chinese goods sold in 2016 during Diwali was around Rs 6,500 crore, out of which Rs 4,000 crore was for products such as toys, fancy lights, gift items, plastic ware, decorative goods etc.

Diwali 2017: Chinese goods' sale may drop by 45%, says Assocham survey

Ahead of India&#39;s festival of Diwali, the government of the country&#39;s capital Delhi has increased its vigil against imported firecrackers, ordering inspection teams to search markets and godowns more frequently.

In a review meeting attended by senior government and police officials, environment minister Imran Hussain directed strict action against those found violating the norms, India&#39;s news agency PTI reported.

The minsiter also ordered that court orders regarding the prevention of noise pollution --- especially relating to the complete ban on bursting of sound emitting firecrackers between 10pm to 6am ---&nbsp; would have to be enforced.

District-wise inspection teams, of senior administration officers and engineers, constituted for checking the availability of firecrackers in the market, have been asked to increase the frequency of their inspections, the environment ministry said in a statement.

&quot;The team(s) of officers from Licensing Unit constituted to check godowns randomly for availability of imported firecrackers in the market should augment their vigilance and field visits,&quot; the statement added.

The crackdown against imported firecrackers specially targets imports from China, an ally of Pakistan, with which India&#39;s relations have deteriorated after the Uri attacks in Kashmir. China has repeatedly blocked India&#39;s efforts at international forums for action against terrorist groups operating out of Pakistan.

The sale of Chinese crackers is likely to go down by 30% this Diwali, a traders body, Sale of Confederation of All India Traders, recently said in a statement.

Pollution levels in the city shoot up after Diwali. Last year, the air quality had deteriorated to &quot;severe&quot; after celebrations with pollution levels rising more than 20 times in certain areas of the city. Noise pollution was also high in most parts of the city. 
 
(WION with inputs from PTI)

The crackdown against imported firecrackers is for reducing pollution and also to curb imports from China, reports suggest

Ahead of India's festival of Diwali, the government of the country's capital Delhi has increased its vigil against imported firecrackers, ordering inspection teams to search markets and godowns more frequently. In a review meeting attended by senior government and police officials, environment minister Imran Hussain directed strict action against those found violating the norms, India's news agency PTI reported. The minsiter also ordered that court orders regarding the prevention of noise pollution --- especially relating to the complete ban on bursting of sound emitting firecrackers between 10pm to 6am --- would have to be enforced. District-wise inspection teams, of senior administration officers and engineers, constituted for checking the availability of firecrackers in the market, have been asked to increase the frequency of their inspections, the environment ministry said in a statement. "The team(s) of officers from Licensing Unit constituted to check godowns randomly for availability of imported firecrackers in the market should augment their vigilance and field visits," the statement added. The crackdown against imported firecrackers specially targets imports from China, an ally of Pakistan, with which India's relations have deteriorated after the Uri attacks in Kashmir. China has repeatedly blocked India's efforts at international forums for action against terrorist groups operating out of Pakistan. The sale of Chinese crackers is likely to go down by 30% this Diwali, a traders body, Sale of Confederation of All India Traders, recently said in a statement. Pollution levels in the city shoot up after Diwali. Last year, the air quality had deteriorated to "severe" after celebrations with pollution levels rising more than 20 times in certain areas of the city. Noise pollution was also high in most parts of the city. (WION with inputs from PTI)

Ahead of festival, India strengthens drive against imported firecrackers

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