China’s industrial profits grew for a second consecutive month in April, driven by government support despite U.S. tariffs and deflationary pressures, according to CNBC. Major industrial firms in China saw profits rise 3% in April from a year earlier, up from 2.6% growth in March. Gains were strongest in high-tech and equipment manufacturing, with biopharmaceutical and aircraft makers driving the surge. Trump imposed 145% tariffs on Chinese imports last month, prompting retaliation and a near trade embargo, though Chinese exports shifted to other markets. Washington and Beijing later agreed to reduce most tariffs after reaching a trade truce.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02China's industrial profits grew for a second consecutive month in April, driven by government
00:06support despite U.S. tariffs and deflationary pressures, according to CNBC. Major industrial
00:11firms in China saw profits rise 3% in April from a year earlier, up from 2.6% growth in March.
00:17Gains were strongest in high-tech and equipment manufacturing, with bio-fibroceutical and
00:21aircraft makers driving the surge. China imposed 145% tariffs on Chinese imports last month,
00:26prompting retaliation to near trade embargo, though Chinese exports shifted to other markets.
00:31Washington and Beijing later agreed to reduce most tariffs after reaching a trade truce.
00:35For all things money, visit Benzinga.com slash GSTV.