Bessent went on to add in a further interview with CNBC he expects tariff revenues under President Trump to exceed his earlier $300 billion estimate, with the money going to pay d

China has reported its economy showed signs of slowing in July as factory output and retail sales slowed while housing prices fell further.

The Chinese economy lost some momentum in July, backing the case for policymakers to snap out of wait-and-see mode and stimulate growth.

China's stands at 84 percent, buoyed by debt-driven growth in the 2010s and a housing market crunch that heavily indebted local governments. London-based global advisory firm Oxford Economics estimates the Chinese economy's potential growth could be cut roughly in half by the 2050s.

Officials blamed U.S. “protectionism” for the dismal July data, but growth was likely held back by real estate and new policies aimed at slowing factory investments.

Policymakers are under pressure to roll out more stimulus to revive domestic demand and ward off external shocks to the $19 trillion economy.

China’s Foreign Minister Wang Yi, after high-stakes boundary talks in New Delhi, has landed in Islamabad for the sixth China-Pakistan Strategic Dialogue. His visit highlights Beijing’s careful balanci

China’s economy is stuck in a rut. Beijing’s steady incremental stimulus fuels growth spurts that have proven to not be sustainable.

The country could see its potential economic output halved by mid-century amid a flagging birthrate and aging workforce.

The latest snapshot of the world’s second-largest economy indicated that growth lost steam after a show of strength earlier in the year allowed Beijing to take a wait-and-see approach to further stimulus.

Trump has been remarkably consistent over the years about his core economic gripe: the trade deficit. In 1987, he spent nearly $100,000 to purchase a full-page ad in three U.S. newspapers that said: “It’s time for us to end our vast deficits by making Japan, and others who can afford it, pay.”