Beijing is betting that economic pressure and diplomatic defiance will force concessions, but its stance could put more strain on its ties with Europe at a crucial time.

M said it expects a gross tariff impact of 20 cents a share for the full year, down from its prior projection of 60 cents a share, thanks in part to easing trade tensions between the U.S. and China. CEO Bill Brown said most of the materials maker’s tariff costs are related to China,

M raised its full-year profit forecast and projected a smaller tariff-related hit to its 2025 earnings on Friday, weeks after the U.S. and China arrived at a trade truce.

President Donald Trump’s first year back in the White House has coincided with some sharp changes in allied countries’ assessments of the importance of Chinese economic ties.

China accounted for 5.89% of all U.S. trade in May, its lowest percentage in decades. Trump’s tariffs or trade trickery? It’s hard to dispute it’s a remarkable shift.

China wants to bring its trade ties with the U.S. back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the U.

Since US President Donald Trump – just days into his second term – began imposing tariffs on China for its role in the flow of deadly opioids like fentanyl into the United States, Beijing’s message has been clear.

BEIJING - China confirmed on Monday it will hold a top-level summit with the European Union in Beijing this week marking 50 years of diplomatic ties as both sides seek to navigate trade disputes amid broader global trade uncertainties.