China to cut interest rates in response to trade war with US

The People’s Bank of China is cutting interest rates and injecting liquidity into its economy to combat escalating tensions with the U.S. over a trade war. With U.S.-China trade friction at 145% tariffs on Chinese exports—a significant portion of GDP—Beijing has relied heavily on exports but faces severe challenges. Despite meetings between senior officials, a trade deal remains unlikely. Meanwhile, measures like lowering borrowing costs aim to bolster consumer spending and stabilize the property market amid economic headwinds.