China’s economy showed its first big signs of damage from the trade war, as steep U.S. tariffs pummeled export orders and production at the country’s factories. A gauge of new export orders fell in April to its lowest reading since Covid-19 was ravaging the country in 2022,

Higher tariffs on U.S. imports of products from China are taking a toll on the world's second-largest economy as export orders sink, according to monthly surveys of Chinese factory managers released Wednesday.