U.S. media: Trump's tariffs impact causes a fall in China's industrial profits.

Gate News bot reported that, according to Bloomberg, China's industrial enterprise profits have seen the largest decline since October, indicating signs of economic weakness in China due to the impact of increased U.S. tariffs and ongoing Deflation pressure.

Data released by the National Bureau of Statistics of China on Friday showed that profits from large-scale industrial enterprises fell by 9.1% year-on-year last month. In May, profits from large-scale industrial enterprises reversed the slight growth trend seen earlier this year, with a year-on-year decline of 1.1% in the first five months.

Bloomberg Economics had predicted a year-on-year decline of 0.3% in May.

According to data from the National Bureau of Statistics of China, although the industrial added value grew by 5.8% in May, the profits of industrial enterprises have shrunk. From January to May, the total profit of industrial enterprises nationwide was 2.72 trillion yuan (approximately 379 billion USD), a decline of more than one-fifth compared to the same period in 2021 and 2022.