China economy

Chinese consumers shun American products

Illustration: Rebecca Zisser/Axios

American brands are facing challenges in the Chinese market, as trade and geopolitical disputes wage on for the two countries, the Wall Street Journal reports.

Why it matters: Western executives had long-established plans to dominate the Chinese market, but global consumer brands now have a smaller market share in China than at any other time since the last financial crisis, per WSJ.

Trump says U.S. and China reach partial trade agreement

This illustration shows George Washington and Mao Zedong as they appear on currency
Illustration: Axios Visuals

President Trump said the U.S. and China reached a partial trade deal on Friday that included an agreement from the U.S. to suspend a planned 30% tariff spike on Oct. 15, while China will buy $40-50 billion worth of U.S. agricultural goods.

Why it matters: The ceasefire comes as the U.S. economy is showing signs of weakness as a result of the trade war — threatening the economic gains Trump has counted on to carry him to re-election in 2020.