China has reported 4% GDP growth in the first quarter

UBS has downgraded China’s growth forecast for 2025 to 3.4%, saying that the country’s stimulus programme might slow down due to the US-China trade war. It added that current tariff hikes remain and China rolled out additional stimulus. This comes after the US imposed new 25% tariffs on $200 billion worth of Chinese imports. China has retaliated with its own tariffs on US goods.