China’s Belt and Road Contracts Hit Record as US Tariffs Bite

Chinese companies have secured a record volume of investment and construction contracts under President Xi Jinping’s Belt and Road Initiative, according to the Financial Times. The surge highlights Beijing’s growing economic footprint across participating countries even as global trade friction rises. The milestone comes as Washington intensifies tariffs on trading partners, including the 145% levy on Chinese goods that took effect in April. A recent business survey cited by Bloomberg indicates a record share of U.S. firms have frozen new investments in China this year, underscoring the divergent paths the two economies are taking in overseas engagement.