Latest news with #LynneSong
CTV News
2 hours ago
- Business
- CTV News
China says its exports to the U.S. fell 35% in May, as trade talks are due to start in London
China's exports to the United States fell 35% in May from a year earlier, new customs data show, adding to pressure on the world's second largest economy as a new round of trade talks with Washington was due to start later Monday in London. China's total exports rose 4.8% last month, slowing from an 8.1% year-on-year increase in April. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2 billion. China exported $28.8 billion to the United States in May, compared with $44 billion a year earlier. Its imports from the U.S. fell to $10.8 billion, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12%, year-on-year. Exports to Thailand, Vietnam and Indonesia were sharply higher, and exports to Germany jumped more than 12%. 'The acceleration of exports to other economies has helped China's exports to remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Many businesses had rushed orders earlier in the year to try to beat higher tariffs. Once new import duties took effect, shipments slowed. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the U.S. imposed on each other in their escalating trade war, Zichun Huang of Capital Economics said in a report. 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Huang said. Despite the tariffs truce, rancor between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries and visas for Chinese students at American universities. The round of negotiations due to take place later Monday in London follow a phone call last week between Trump and Chinese leader Xi Jinping. It's unclear if that exchange will lead to any significant progress during the talks this week. Speaking to reporters on Air Force One on Friday, Trump said Xi had agreed to restart exports of rare earth minerals and magnets to the U.S. which China had slowed, threatening a range of U.S. manufacturers that relied on the critical materials. There was no immediate confirmation from China. The trade data released on Monday showed a nearly 21% plunge in the value of China's rare earths exports in January to May compared with a year earlier. In terms of volume, those exports rose 2.3%. Similar trends can be seen in exports of other products and commodities, such as shoes, ceramics and cell phones, as slowing demand causes prices to fall. Other data released Monday highlighted the pressure on China's own economy from slowing exports. Imports have faltered since manufacturers import many of the components and materials needed for the goods they assemble for the world. At the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, evidence of sluggish demand. The persisting deflation partly reflects lower food prices, economists said. Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April. ___ AP researcher Yu Bing in Beijing contributed to this report. Elaine Kurtenbach, The Associated Press
Yahoo
3 hours ago
- Business
- Yahoo
China says its exports to the US have plummeted ahead of trade talks
China's exports rose 4.8% in May from a year earlier, according to data released on Monday just hours ahead of another round of trade talks between the US and China. The total was a bit lower than expected, as shipments to the United States fell nearly 10%. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2bn (€90.33bn). China exported $28.8bn to the United States in May, while its imports from the US fell 7.4% to $10.8bn, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12% year-on-year. 'The acceleration of exports to other economies has helped China's exports remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Still, trade slowed in May from an 8.1% jump in China's global exports in April. Many businesses had rushed orders to try to beat higher tariffs, even as some new import duties took effect or remained in place. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the US imposed on each other in their escalating trade war. Related China cuts key lending rates to record lows to counter the impact of US tariffs China accuses US of violating trade truce and vows firm retaliation 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Zichun Huang of Capital Economics said in a report. Despite the tariffs truce, the rancour between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries, and visas for Chinese students at American universities. The next round of negotiations is due to take place on Monday in London, following a phone call last week between Trump and Chinese leader Xi Jinping. Other figures released on Monday highlight how slowing exports are impacting the world's second largest economy, since China imports many of the components and materials needed for the goods it assembles for the world. At the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, pointing to sluggish demand. The persisting deflation partly reflects lower food prices, economists said. Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April.
San Francisco Chronicle
3 hours ago
- Business
- San Francisco Chronicle
China says its exports to the US fell nearly 10% in May, as trade talks are due to start in London
China's exports to the United States sank fell nearly 10% in May from a year earlier, new customs data show, adding to pressure on the world's second largest economy as a new round of trade talks with Washington was due to start later Monday in London. China's total exports rose 4.8% last month, slowing from an 8.1% year-on-year increase in April. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2 billion. China exported $28.8 billion to the United States in May, while its imports from the U.S. fell 7.4% to $10.8 billion, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12%, year-on-year. Exports to Thailand, Vietnam and Indonesia were sharply higher, and exports to Germany jumped more than 12%. 'The acceleration of exports to other economies has helped China's exports to remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Many businesses had rushed orders earlier in the year to try to beat higher tariffs. Once new import duties took effect, shipments slowed. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the U.S. imposed on each other in their escalating trade war, Zichun Huang of Capital Economics said in a report. 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Huang said. Despite the tariffs truce, rancor between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries and visas for Chinese students at American universities. The round of negotiations due to take place later Monday in London follow a phone call last week between Trump and Chinese leader Xi Jinping. It's unclear if that exchange will lead to any significant progress during the talks this week. Speaking to reporters on Air Force One on Friday, Trump said Xi had agreed to restart exports of rare earth minerals and magnets to the U.S. which China had slowed, threatening a range of U.S. manufacturers that relied on the critical materials. There was no immediate confirmation from China. The trade data released on Monday showed a nearly 21% plunge in the value of China's rare earths exports in January to May compared with a year earlier. In terms of volume, those exports rose 2.3%. Similar trends can be seen in exports of other products and commodities, such as shoes, ceramics and cell phones, as slowing demand causes prices to fall. Other data released Monday highlighted the pressure on China's own economy from slowing exports. Imports have faltered since manufacturers import many of the components and materials needed for the goods they assemble for the world. At the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, evidence of sluggish demand. The persisting deflation partly reflects lower food prices, economists said.
Euronews
4 hours ago
- Business
- Euronews
China says US exports have plummeted ahead of trade talks in London
China's exports rose 4.8% in May from a year earlier, according to data released on Monday just hours ahead of another round of trade talks between the US and China. The total was a bit lower than expected, as shipments to the United States fell nearly 10%. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2bn (€90.33bn). China exported $28.8bn to the United States in May, while its imports from the US fell 7.4% to $10.8bn, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12% year-on-year. 'The acceleration of exports to other economies has helped China's exports remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Still, trade slowed in May from an 8.1% jump in China's global exports in April. Many businesses had rushed orders to try to beat higher tariffs, even as some new import duties took effect or remained in place. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the US imposed on each other in their escalating trade war. 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Zichun Huang of Capital Economics said in a report. Despite the tariffs truce, the rancour between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries, and visas for Chinese students at American universities. The next round of negotiations is due to take place on Monday in London, following a phone call last week between Trump and Chinese leader Xi Jinping. Other figures released on Monday highlight how slowing exports are impacting the world's second largest economy, since China imports many of the components and materials needed for the goods it assembles for the world. At the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, pointing to sluggish demand. The persisting deflation partly reflects lower food prices, economists said. Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April. Salaries vary widely across sectors and professions in Europe. While a number of jobs are disappearing, new ones are also emerging. Some roles, like those in healthcare, continue to be essential. So, which sectors offer the highest pay in Europe? And what are the top-earning jobs? Exploring these questions can help when choosing a career — though salary may not be the main driver for everyone. Euronews Business analyses the highest-paying roles in Europe, using data shared by the global hiring platform Indeed with our journalists. The analysis covers four countries (the UK, Germany, France and the Netherlands) and the salary data reflects annual earnings from May 2024 to April 2025. The occupation 'physicians and surgeons' is excluded from the main dataset, prompting a separate analysis. Medical consultants, radiologists, medical directors, orthodontists, and dentists are consistently among the highest-paid roles across all countries. These jobs appear in categories including: medical technician, medical information, nursing, and dental. This is especially true in the UK, where nearly half of the top 20 highest-paying jobs fall under these brackets. In France, three of the top four highest-paying jobs are also in these categories — particularly dental roles. Titles such as managing director, director of strategy, project director, and director of technology are well compensated across countries. These positions are found in sectors like sales, banking and finance, technology, and general management, indicating that leadership roles tend to carry premium compensation in many industries. Roles in software development, information design and documentation, and IT operations — like software engineer, data engineer, and SAP consultant — are well-paid, particularly in Germany and the Netherlands. While entry-level sales roles are less lucrative, senior roles like sales director, head of sales, and enterprise account executive show high earning potential. These roles often come with large pay packages in Germany and the Netherlands, where experienced sales professionals can earn salaries comparable to those seen in tech or management roles. Positions like tax director, labour law attorney (or an employment solicitor), and financial controller are consistently high-paying, particularly in Germany and the UK. These roles fall under legal, accounting, and banking and finance categories and reward deep regulatory or financial expertise. Job skills are constantly evolving, especially with advancements in technology. 'Continuous learning is essential in a fast-evolving market,' Pawel Adrjan, Director of Economic Research at Indeed, told Euronews Business. 'As was the case with all prior cases of technological innovations, professionals who proactively learn new tools, platforms, and methodologies will position themselves more competitively to work most efficiently with the emerging technologies.' In Germany, corporate tax advisors receive the highest annual median salary, at €145,000. The chart also displays mean salaries for comparison. Various sales roles, such as managing director and head of sales, follow closely, with median earnings ranging from €107,500 to €138,243. A labour law attorney earns €105,000, while a lawyer receives €93,334. System applications product (SAP) consultants earn just below the €100,000 threshold, with senior system engineers close behind at €95,000. Other tech roles such as IT security specialist and technical SAP consultant make around €90,000. In the management category, directors also earn approximately €90,000. There is only one medical title listed — dentists — earning a median salary of nearly €86,000. In France, dentists top the list with the highest annual median salary at €95,000, followed by orthodontists earning €78,750. In the tech sector, network architects receive €72,361, while medical technicians in the healthcare field make €70,000. A compliance officer in production and manufacturing earns €67,500. Roles like domain manager and sales agent follow, with salaries of around €65,000 and €64,855 respectively. The digital transformation consultant and mechanical designer earn €62,750 and €62,500. Several positions report identical median salaries of €60,000, including engineering director, real estate salesperson, operations director, senior sales representative, account executive, production director, human resources director, cloud architect (cloud IT professional) and loan broker advisor. Healthcare professions dominate the top end of the UK salary spectrum, with nine of the top 20 highest-paying roles in this sector. In the UK, fashion models top the list with a striking annual median salary of €166,390 (£140,000). They are followed by medical consultants, earning €145,821 (£111,412). Medical directors and radiologists both earn €137,566. Other high earners in the healthcare sector include orthodontists (€130,767), clinical consultants (€125,392), chief nursing officers (€124,793), and clinical directors (€109,442). Associate dentists (€116,785) and periodontists (€113,808) are also among the top earners. In sterling, their annual salaries range from £96,000 to £116,000. Senior leadership and technical roles also feature prominently: project directors earn €122,528, directors of technology €121,821, and microbiologists €121,313. In the Netherlands, roles in management, accounting, and software development are among the best-paid. General directors lead with a median annual salary of €115,000. Other top-paying roles include business controllers (€80,000), team leaders (€78,206), and engineers (€75,208). Finance roles like controllers and financial controllers also perform well, earning between €72,500 and €75,816. Salaries in sales and tech positions tend to cluster between €56,500 and €66,000, with roles such as sales manager, software engineer, data analyst, and account executive all falling within this range. 'Attending a top-ranked university can certainly influence job prospects and salary potential, especially in countries like France or the UK,' Pawel Adrjan said. He noted that graduating from elite educational institutions like grandes écoles and universities with a long history can be perceived as a signal of ability in the labour market. 'However, recent trends we observe on Indeed in both the UK and France show that formal education requirements in job postings are becoming less common, especially in high-skill fields like IT and data science, suggesting a gradual shift toward skills-based hiring,' he added. As jobs continue to evolve, it's completely natural for the highest-paying roles to change too. 'Over the next 5-10 years, we anticipate that green energy, AI/GenAI, cybersecurity, and biotechnology will produce new top-earning job titles,' said Adrjan of Indeed. He explained that roles like AI ethicist, key sustainability roles, GenAI engineers, and climate data analysts are gaining traction and are likely to move into the upper salary echelons as demand for specialised expertise in these areas grows.
5 hours ago
- Business
China's exports climb 4.8% in May as shipments to the US fall nearly 10%
China's exports rose 4.8% in May from a year earlier, a bit lower than expected, as shipments to the United States fell nearly 10%, according to data released Monday just hours ahead of another round of trade talks between the U.S. and China. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2 billion. China exported $28.8 billion to the United States in May, while its imports from the U.S. fell 7.4% to $10.8 billion, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12%, year-on-year. 'The acceleration of exports to other economies has helped China's exports remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Still, trade slowed in May from an 8.1% jump in China's global exports in April. Many businesses had rushed orders to try to beat higher tariffs, even as some new import duties took effect or remained in place. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the U.S. imposed on each other in their escalating trade war. 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Zichun Huang of Capital Economics said in a report. Despite the tariffs truce, the rancor between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries and visas for Chinese students at American universities. The next round of negotiations was due to take place later Monday in London, following a phone call last week between Trump and Chinese leader Xi Jinping. Other data released Monday highlight the pressure on the world's second largest economy from slowing exports, since China imports many of the components and materials needed for the goods it assembles for the world. But at the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, evidence of sluggish demand. The persisting deflation partly reflects lower food prices, economists said. Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April.
