China will not dump its goods in other countries due to its trade and tariff war with the U.S., Beijing's ambassador to India, Xu Feihong, wrote in an article on Tuesday, trying to allay fears of cheap Chinese goods flooding other markets, Reuters reported. In tit-for-tat tariffs between the world's two biggest economies, China and the U.S. have hiked levies on each other's goods to over 100% since U.S. President Donald Trump took office in January, rattling global markets, opens new tab.

China's industrial profits returned to growth in the first quarter, official data showed on Sunday, but are likely to come under further pressure amid a trade war with the United States, Reuters reported. With Washington's aggressive tariffs threatening to hit China's crucial export engine hit and no time frame yet for any bilateral trade talks, economists and investors are waiting for the Chinese government to roll out more support measures to cushion the blow to the world's second-largest economy.

China called for all "unilateral" U.S. tariffs to be cancelled on Thursday, as signs emerged that the Trump administration may de-escalate its trade war with Beijing, Reuters reported. China also clarified that it has not held trade talks with Washington despite repeated comments from the U.S. government suggesting there had been engagement. U.S. President Donald Trump has repeatedly said that the U.S. will have a deal with China and on Wednesday said there was "direct contact" between both countries.

The U.S. is moving forward with a plan to charge fees on Chinese ships calling at American ports, part of the Trump administration’s effort to counter China’s dominance in ocean shipping and revive the domestic maritime industry, the Wall Street Journal reported. The U.S. Trade Representative’s office on Thursday released the plan to charge steep fees on Chinese-owned and operated ships, and lower fees on Chinese-built vessels operated by non-Chinese carriers. Ships will be charged for each voyage to the U.S. and not for each call at a U.S.

Chinese authorities have asked e-commerce platform operators to stop insisting on merchants refunding customers without requiring the return of goods, to alleviate financial pressure on merchants, Reuters reported. The government met operators including PDD Holdings and concluded the practice must end by July, from which point only merchants will be able to initiate a refund.

The United States sells more soybeans to China, by value, than any other single product. Last year, that amounted to more than 27 million metric tons, worth $12.8 billion, or about 9 cents of every dollar of goods the United States sold to China, the New York Times reported. But with the enormous tariffs erected between the two countries over the past two weeks, those sales are likely to suffer soon. That is bad news for the American farmers who grow soybeans and the Chinese chicken and hog farmers who buy them — and potentially very good news for the nation ready to step in: Brazil.

China’s state-owned AVIC Trust Co. has requested operational support from two fellow trust firms after delaying payments on its investment products, Mitrade.com reported. The call for help comes at a time when the nation’s $3.7 trillion trust industry is struggling. AVIC Trust will become the first state-owned trust firm placed in custody since China’s Trust Law was enacted in 2001. According to a Bloomberg exclusive on Monday, the Beijing-based firm announced that it had entered into a service agreement with CCB Trust Co. and SDIC Taikang Trust Co.

China’s benchmark lending rates remained unchanged again this month, with policymakers likely watching to see how the trade war with the U.S. unfolds before taking further steps to stimulate the economy, the Wall Street Journal reported. The one-year loan prime rate was left at 3.1% while the five-year rate remained at 3.6%, said the People’s Bank of China on Monday. Though the pressure posed by tariffs and continued low inflation in China back the case for policy easing, Monday’s hold was widely expected as the central bank hasn’t changed its policy rates.