China ‘may exempt some US goods’ from tariffs; British retail sales beat forecasts – business live

News Snapshot:

08.12 CEST Introduction: China 'considering exempting some goods from US tariffs' Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Hope is swirling this morning that China might relax some of the tariffs it has imposed on US goods as part of Donald Trump’s trade wars. With the economic costs of the tit-for-tat trade war hurting Chinese companies, Beijing appears to be seeking to mitigate the economic fallout from the conflict. According to Bloomberg, this means China’s government is considering suspending its 125% tariff on some US imports – a sign that...