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.

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

Aaron Forkash, a scrap metal dealer based in California, plans to continue exporting copper to Asia even after US President Donald Trump's new 50 per cent tariff on the metal comes into force on August 1.

The hope, and the expectation, is that when U.S. officials meet their Chinese counterparts in Stockholm to talk economics and trade next week, they will build on a recent lessening of tensions as the U.S. tries to set up a fall meeting between the countries’ leaders and lay the groundwork for another loosely defined trade pact.

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.

The White House is putting a priority on doing business with Beijing as it prepares for bilateral talks next week.

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.”

President Trump says he reached a trade agreement with the Philippines following a White House visit by its president. The U.S., the Philippines and other Asian allies are increasing their cooperation to counter China,