Chinese Factories See Improved Orders As Importers Rush To Beat Tariffs

Chinese manufacturers reported an uptick in orders in February as importers rushed to beat higher U.S. tariffs imposed by President Donald Trump.

The stronger-than-expected data came as Chinese leaders gathered in Beijing for the annual session of the National People’s Congress.

Lawmakers are expected as usual to endorse policies and priorities set by the ruling Communist Party, which could include some fresh help for the economy as it slows to growth economists forecast will fall below 5%.

Trump earlier imposed a tariff of 10% on imports from China and that will rise to 20% beginning Tuesday. He also ended the “de minimis” loophole that exempted imports worth less than $800 from tariffs, in a blow to companies whose online sales direct to consumers had soared in recent years, reports.

The Associated Press. Surveys of factory managers showed China’s official purchasing managers index rose to 50.2% from 49% in January, though that was just above the 50 level that marks the break between contraction and expansion. The new orders index rose to 51.1