China's industrial profits maintain growth momentum in April despite trade tensions

The world's two largest economies traded tit-for-tat tariffs last month, after U.S. President Donald Trump announced sweeping "reciprocal tariffs" on April 2, then pausing them for most countries while singling out China for levies of 145%. The import curbs risk derailing China's largely export-led economic recovery, with analysts warning that up to 16 million jobs could be lost if exports to the United States fall by 50% and the truce Beijing and Washington struck earlier this month cannot be converted into a lasting arrangement.