China’s manufacturing engine is sputtering, with new data revealing the most severe hit to China’s economy since the COVID shutdown. The country’s economy slipped from growth to contraction after the Purchasing Managers’ Index (PMI) fell below 50 in April.

Chinese President Xi Jinping said on Wednesday that tariff and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral trading system and impact the world economic order,

Monthly surveys of Chinese factory managers shows export orders slowed in April as higher tariffs on U.S. imports began to kick in