A spokesperson for the Chinese Ministry of Commerce said that Chinese companies have stopped purchasing U.S. agricultural products in response to U.S. President Trump’s latest  10% tariffs on additional $300 billion of Chinese goods. The department also indicated it would “not rule out” tariffs on newly bought agricultural goods after August 3. Previously, Trump had said that he had secured a large amount of agricultural purchases after meeting with China President Xi Jinping at the G-20 summit in June.But later, Trump alleged that China is not staying true to the agreement,  and then he announced on Thursday the 10% tariffs on the remaining $300 billion in Chinese imports. China accounted for $5.6 billion in U.S. farm product exports in 2018, according to the U.S. Census.

The IMF further said, "Risks to the forecast are mainly to the downside". The organization cut its forecast of China’s economic growth to 6.2%, which is  -0.1 a percentage point lower than the April forecast. However, the IMF increased its projection for U.S. growth by 0.3 a percentage point to 2.6% - the fastest among large advanced economies.IMF’s latest forecasts come amidst expectations of a U.S. policy interest rate cut by the Federal Reserve.

excluding food and energy, rose 0.3% in June - the largest increase since January 2018.On  a year-over-year basis, the core index rose 2.1%.

Stocks jumped to record highs Wednesday, after Federal Reserve Chair Jerome Powell’s comments seemed to strengthen expectations for monetary policy easing. The latest minutes released from Federal Open Market Committee indicate their perception of trade uncertainty posing risks to their economic growth and inflation projections.Powell's comments indicate that trade tensions and concerns about the global economy have challenged the policymakers' outlook on the U.S. economy.

US job gains bounced back in June, with employers adding 224,000 jobs, according to Labor Department data released Friday. The job additions surpassed economists' forecasts of a gain of about 160,000.This is a clear improvement from last month's report, which showed job gains of 75,000 in May, well below expectations of 165,000. Professional services sector led the way with 51,000 job additions in June, while health-care providers added 35,000 jobs and transportation and warehouse companies added 24,000.  Construction companies hired 21,000 workers and manufacturers added 17,000 jobs. Retail sector, however, shed another 6,000 jobs. The U.S. unemployment rate for June, however, increased slightly to 3.7% from 3.6%.

jobs growth improved in June, albeit at a slower pace than economists had expected, based on a report from payroll firm Automatic Data Processing (ADP). Private employers added 102,000 jobs in June, according to ADP.The figure is lower than the 140,000 job gains expected by economists polled by FactSet. Nevertheless, June job additions still are a significantly better than May’s 41,000 job gains. Service industries contributed most of the the job growth in June, adding 117,000 positions.

Wilmington Trust’s chief economist believes the market rally’s foundation is on shaky ground. With the S&P 500 seeing its best June since 1955, Luke Tilley warns that investors are getting excessively optimistic on U.S.-China trade talks and Federal Reserve policy.

Barclays believes a market “melt-up” could be on the horizon if three things materialize in the near future: A trade truce,  Federal Reserve rate cuts and the economic slowdown only being a soft patch.

The Dow Jones Industrial Average gained 256 points at the open, led by Caterpillar and Exxon Mobil.The Dow was also within 1% of its record high, while the Nasdaq remained 1.3%.

Two of the world’s most influential economic leaders have warned that there are troubling developments arising from increased trade barriers and tariffs. Mario Draghi, the president of the European Central Bank (ECB) and Christine Lagarde, the managing director of the International Monetary Fund (IMF) warned that the global trade dispute between the U.S. and China as well as a threatened dispute with Europe and other industrial nations could cause headwinds for all and could get worse.

China will not allow the U.S. to interfere in its legislative process and economic policies, but it seems to be showing a readiness to keep its sales in American markets on a steep and steady downward path. According to data released June 6 by the U.S. Department of Commerce, Chinese goods exports to the U.S. in the first four months of this year declined 12.8% from the same period of 2018, driving the trade surplus down 10%.

mortgage applications moved higher last week, led by a jump in requests for refinancing, as home borrowing costs fell to their lowest levels in nearly 17 months, the Mortgage Bankers Association said on Wednesday. The Association's seasonally adjusted index on loan requests to buy a home and to refinance one rose 1.5% to 417.8 in the week ended May 31.  Interest rates on 30-year fixed-rate “conforming” mortgages or loans whose balances are $484,350 or less decreased to 4.23%, which was the lowest since January 2018.A week ago, they averaged 4.33%.

U.S.job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labor market, which could put pressure on the Federal Reserve to cut interest rates this year.

A dovish Federal Reserve can use tools such as rate cuts to lessen the damage of America’s tariff skirmishes with China and Mexico, but it is either limited in its effectiveness or in its motivations, two economists told CNBC on Thursday.

There’s still a chance that the U.S. and China could reach a trade deal by the end of this year, but that won’t be enough to cause investors to cheer, according to an investment expert from BlackRock. Isabelle Mateos y Lago, deputy head of BlackRock’s Official Institutions Group, said Friday that any trade deal between Washington and Beijing will likely be “narrow.” That means the deal won’t likely resolve all the tensions between the two countries, she explained.

New York Federal Reserve President John Williams, addressing a key market concern, said Thursday the move of near-term bond yields above their longer-duration counterparts is only one consideration when determining what the economy will look like in the future. The inverted yield curve is not “an oracle,” he said during a question-and-answer session with CNBC’s Steve Liesman.

U.S.-China tariffs, that have been both implemented and proposed, could cut global economic output by 0.5% in 2020, the International Monetary Fund (IMF) warned Wednesday. Christine Lagarde, the IMF’s managing director, said in a briefing note for G-20 finance ministers and central bank governors that taxing all trade between the world’s two largest economies would cause some $455 billion in gross domestic product to evaporate.This would be a loss larger than South Africa’s economy, it said.

The International Monetary Fund trimmed its forecasts for economic growth in China, and said the trade war with the U.S. is tilting the balance of risks to the downside.

New orders for U.S.-made goods fell in April and shipments dropped by the most in two years, indicating continued weakness in manufacturing activity that could undercut the broader economy.

President Donald Trump promised the U.K. a “phenomenal trade deal” Tuesday, on the second day of his state visit to Britain. His comments revealed little detail but added to previous assurances from the U.S. president as Britain slowly edges toward an exit from the EU.