China’s economy showed its first big signs of damage from the trade war, as steep U.S. tariffs pummeled export orders and production at the country’s factories. A gauge of new export orders fell in April to its lowest reading since Covid-19 was ravaging the country in 2022,

China's factory activity slowed at the start of the second quarter, with a sharp fall in new export orders and the resumption of employment declines, a private-sector survey showed on Wednesday. The survey shows U.