China Aims to Become a Consumption Powerhouse to Drive Economic Growth

MACROECONOMY 
Trump Raised Tariffs on Canada to 35%, Threatened Wider Global Duties 
President Trump increased tariffs on Canadian imports to 35% starting 01 Aug, up from 25%, warning they could rise further if Canada retaliates. The move is part of a broader tariff escalation targeting multiple nations, as Trump signals blanket duties of 15–20% on most U.S. trading partners. (Reuters) 

Trump Threatens 30% Tariffs on EU and Mexico, Sparking Global Trade Tensions President Donald Trump announced a 30% tariff on imports from Mexico and the EU starting 01-Aug after failed trade talks, triggering sharp criticism and warnings of countermeasures from key allies. The move is part of a broader strategy targeting 23 nations with tariffs up to 50%, further straining diplomatic ties and fueling concerns of a global trade rift. (Reuters)

INDUSTRY 
China Property Market Rebounds in 1H25 with 340+ Policy Adjustments 
China’s property market showed signs of recovery in 1H25, driven by over 340 supportive policies across cities. New home sales rose in major cities: Beijing (+11.9% YoY), Shenzhen (+42% YoY), Shanghai (+38% YoY), and Guangzhou (+17% YoY). Beijing’s 1H25 secondhand home sales reached 87,500 units (+18.6% YoY), while Shanghai posted 116,000 units (+24% YoY). Developers’ land acquisition confidence improved as land deals surged: Beijing (+15.8% YoY), Shanghai (15/19 plots sold at premium), and Hangzhou (IDR 1,160 tn land value; +35.5% premium rate). Nationally, top 100 developers’ land purchases hit IDR 5,065.5 tn (+33.3% YoY). (CCTV News)