Vietnam’s trade surplus with the U.S. expanded sharply in May as exports swelled and its imports from China also jumped, exacerbating sore points with Washington that could hurt Hanoi’s efforts to avoid crippling tariffs.
According to a recent report by the Society of Motor Manufacturers and Traders (SMMT), new car sales in Britain witnessed a rise for the second consecutive month this year.
Growth in China’s exports likely slowed in May despite a lowering of U.S. tariffs on Chinese goods, as the fallout from the still-unresolved trade war and uncertainties in Sino-U.S. ties weighed on shipments.
The U.S. trade balance, a key indicator of the nation’s economic health, showed an unexpected improvement, with the deficit narrowing to $-61.60 billion, according to recently released data.
U.S. job growth likely slowed considerably in May as businesses struggled with headwinds from tariff uncertainty, but probably not enough for a cautious Federal Reserve to resume cutting interest rates anytime soon.
Most Asian stocks moved in a tight range on Friday as investors awaited more cues on trade talks between the U.S. and major regional economies, especially China.