The US economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly four years, keeping it on track to hit the Trump administration’s 3% growth target this year.
China and the United States can compete but should not view each other with a Cold War mentality and should avoid falling into a zero-sum game trap, the Chinese government's top diplomat said, amid deteriorating ties between the superpowers.
Top members of Donald Trump's administration are so alarmed by the president's erratic and amoral behavior that they are actively working to undermine him, an anonymous senior official wrote in The New York Times on Wednesday.
China's Ministry of Commerce announced it is pursuing legal remedy against the U.S. in a brief statement on its website — the latest in an escalating trade conflict between the world's two largest economies.
Global Times Editorial
The Trump administration announced tariffs on Chinese high-tech and industrial imports worth of US$50 billion. The first round, on imports totaling US$34 billion, will begin July 6, while the second round is still under review.