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China economic data, US-China trade war in focus

Chinese economic data has been particularly in focus in recent months as the U.S.-China trade war continues to worry investors and businesses. On Wednesday, the country missed expectations with its official manufacturing Purchasing Managers’ Index — which covers large companies and state-owned enterprises — indicating that Chinese manufacturing growth has been weaker than anticipated.

In other trade war News, U.S. President Donald Trump’s top economic advisor Larry Kudlow told CNBC on Wednesday that “nothing is set in stone right now” on whether Washington will impose additional tariffs on Beijing.

Kudlow said “policy talks” will determine whether the White House imposes new duties, “not an arbitrary timeline.” The National Economic Council director added that he would not spell out the specific demands Trump wants China to meet in order for him to reduce tariffs. But he noted that the president has repeatedly pushed for Beijing to address alleged intellectual property theft and barriers to U.S. imports.

Kudlow’s comments came following reports that said Trump could implement more tariffs on China as the trade frictions escalate.

Source : CNBC

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