China’s budget deficit climbed to a fresh record in the first half, highlighting intensified government efforts to shore up domestic demand as Donald Trump’s tariffs reduce exports to the US.

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

China trade has reached a "good place" with reduced tariffs, but said China's 30% share of global manufacturing is unsustainably imbalanced.

This week, top European Union leaders are traveling to Beijing for a high-level summit which could set the tone for the relationship between the EU and China for years to come.On today’s Big Take Asia Podcast,

A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

President Donald Trump on Friday said there is a “50-50 chance” the United States will reach a trade agreement with the European Union to reduce tariffs, even as EU diplomats have signalled greater optimism about striking a deal before the August 1 deadline.

U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the deadline for negotiating a trade deal, U.S. Treasury Secretary Scott Bessent said on Tuesday as President Donald Trump announced a deal with the Philippines and released terms of a previous deal with Indonesia.

Trump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.

Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”