China would increase the size of its economy by about 2 percent by joining a Pacific trade pact in the view of the central bank’s chief research economist, according to presentation slides seen by Bloomberg News.
The Federal Reserve will release minutes from its April meeting at which the Federal Open Market Committee said it would cut bond buying as the economy picks up after winter weather slowed first-quarter growth.
China will almost certainly retaliate against the U.S. for accusations that it infiltrated computer networks to steal corporate secrets, though its slowing economy will restrain any actions, according to trade analysts.
China’s duties on autos imported from the U.S. violated global trade rules, the World Trade Organization said in a ruling that adds to mounting commercial tensions between the world’s two largest economies.
White House official Michael Froman, seeking confirmation as U.S. trade representative, told a Senate committee he would press lawmakers to renew the president’s authority assuring speedy action on trade deals.