China appoints new trade negotiator amid tariff war with US

Emboldened by the latest economic data that showed China’s economy in the first quarter grew faster than expected at 5.4%, Beijing continues to play hardball in its trade war with the United States. But it also quietly appointed a new trade negotiator, with experience at the WTO. Meanwhile, Trump said he’d take part in trade talks with Japan as its delegation headed for Washington. Turmoil returned to Wall Street as the Federal Reserve chairman warned about inflationary impacts of tariffs.