China has taken aim at a new U.S. rule against use anywhere in the world of Ascend computer chips made by Huawei Technologies.

Chinese banks extended 280 billion yuan ($38.87 billion) in new yuan loans in April, below analysts' forecasts and plummeting from March's 3.64 trillion yuan, according to Reuters calculations based on data released by the People's Bank of China.

Grocers’ sales are more reliant on domestically grown food. Supermarket operator Kroger, which previously disclosed “small single-digit exposure” to inventory from China, was down 4.7 per cent in early trading. Walmart, where the bulk of US sales come from groceries, was off by 0.8 per cent.

As Europe tightens checks to block a surge of Chinese goods redirected from the US, data show China's trade surplus with the EU hit a record $90 billion in the first four months of 2025

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

Brazil signed protocols with China on Tuesday to allow exports of an ethanol by-product used in animal feed, challenging U.S. dominance in the market amid the ongoing China-U.S. trade standoff.

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

Chinese Vice Premier He Lifeng, Beijing's lead person for trade talks with the US, said that both countries had reached a consensus in Geneva to de-escalate the 'damaging' tariff war, urging Washington to broaden the scope of cooperation between the two sides.