Ken Moritsugu and Elaine Kurtenbach of the Associated Press report that China unveiled interest rate cuts and other stimulus measures to offset the economic impact of U.S. tariffs, as both nations prepare for trade talks in Geneva. Despite the dialogue, a resolution remains uncertain amid firm stances and economic strain on both sides. They write:
China announced a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump ’s trade war, as the two sides prepared for talks later this week.
Beijing’s central bank governor and other top financial officials outlined plans Wednesday to cut interest rates and reduce bank reserve requirements to help free up more funding for lending. They also said the government would increase the amount of money available for factory upgrades and other innovation and for elder care and other service businesses.
Trump’s tariffs, set as high as 145% on imports from China, have begun to take a toll on its export-dependent economy at a time when it’s already under pressure from a prolonged downturn in the property sector. […]
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