Trump Heaps More Tariffs; China Retaliates




 

Sep.01 -- The Trump administration slapped tariffs on roughly $110 billion in Chinese imports on Sunday. China retaliated. Meanwhile, the outlook for China's manufacturing sector deteriorated further in August. Tom Mackenzie reports on "Bloomberg Daybreak: Australia."

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China's slowdown deepens in August; industrial output growth falls to 17-1/2 year low

Retail sales and investment gauges also worsened, data on Monday showed, reinforcing views that China is likely to cut some of its key interest rates this week for the first time in over three years to prevent a sharper slump in activity. Industrial output growth unexpectedly weakened to 4.4% in August from the same period a year earlier, the slowest pace since February 2002 and receding from 4.8% in July. In particular, the value of delivered industrial exports fell 4.3% on-year, the first monthly decline since at least two years, Reuters records showed, highlighting the growing toll on Chinese manufacturers from the escalating Sino-U.S. trade war.

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