China’s economy showed its first big signs of damage from the trade war, as steep U.S. tariffs pummeled export orders and production at the country’s factories. A gauge of new export orders fell in April to its lowest reading since Covid-19 was ravaging the country in 2022,

US consumer confidence fell to an almost five-year low in April on growing pessimism about prospects for the economy and labor market under Trump. According to Conference Board data released Tuesday,

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