China's Industrial Profits Plummet as Trump's Tariffs Hit
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China's industrial firms saw their profits drop the most since October, illustrating weakness in an economy strained by higher US tariffs and lingering deflationary pressure.
Industrial profits fell 9.1% last month from a year earlier, according to data released Friday by the National Bureau of Statistics. The May reading reversed a modest gain earlier this year and took decline in the first five months to 1.1%.
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