The News
China announced a slate of stimulus measures Wednesday aimed at shoring up its economy ahead of trade talks with the US.
The move to cut interest rates and lower banks’ cash reserve requirements marked the most significant dose of monetary easing since US President Donald Trump’s “Liberation Day” tariffs, and is designed to strengthen Beijing’s hand during negotiations with the US, Bloomberg reported.
The planned talks in Switzerland this weekend reflect a “mutual recognition of the need to de-escalate trade tensions” between the superpowers as the economic realities of a trade war set in, one China watcher wrote: Beijing will likely use the meeting “as a fact-finding mission” to get clarity on the intentions of Trump’s tariffs.
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