Trade Tensions Take Toll: The Impact of Tariffs on China's Economy

Higher US tariffs on Chinese imports are pressuring China's economy, with factory export orders slowing and manufacturing indexes dropping. China's retaliatory tariffs and other measures add to tensions, impacting global economic forecasts. Despite Beijing's efforts to stabilize growth, trade tensions pose significant economic challenges.

In a growing trade standoff, heightened tariffs imposed by the United States on Chinese goods are straining China's economy. Monthly surveys released Wednesday reveal slowed Chinese factory export orders, pointing to the impact of the tariff hikes ordered by US President Donald Trump.

Beijing's response includes tariffs as high as 125% on US products and stringent measures on exporting key minerals for tech products. Official and private surveys indicate a dip in manufacturing activities, highlighting a contraction in April's export and employment figures.

Experts warn of growing economic pressure as China and the US grapple with trade challenges. Amid ongoing tensions, global economic forecasts have dimmed, with the IMF revising down its growth projections and cautioning about broader economic repercussions.

(With inputs from agencies.)