China’s industrial profits grew for a second consecutive month in April, driven by government support despite U.S. tariffs and deflationary pressures, according to CNBC. Major industrial firms in China saw profits rise 3% in April from a year earlier, up from 2.6% growth in March. Gains were strongest in high-tech and equipment manufacturing, with biopharmaceutical and aircraft makers driving the surge. Trump imposed 145% tariffs on Chinese imports last month, prompting retaliation and a near trade embargo, though Chinese exports shifted to other markets. Washington and Beijing later agreed to reduce most tariffs after reaching a trade truce.
