China's economy grew 5.4% year-on-year in the first quarter, data showed on Wednesday, surpassing estimates, but a trade war with the United States has cast a shadow over the outlook and raised pressure on Beijing to roll out further stimulus.

President Donald Trump raised the tariff structure for select Chinese goods to 245%, far exceeding the already staggering 145%. The move is just the latest development in an ongoing trade war between Trump and China’s Xi Jinping,