U.S. President Donald Trump on Tuesday lauded a new trade deal signed with Indonesia and said the United States would be fighting China "in a very friendly fashion."

Official figures showed modest growth in the second quarter as exports shifted to other countries and Beijing invested in manufacturing and infrastructure.

The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.

Russia’s crude exports hit a one-month high, driven by a surge in weekly flows that coincided with a sharp drop in refinery runs. The increase came before President Donald Trump’s threat of secondary tariffs on buyers of Russian oil if Moscow fails to make a swift peace with Ukraine.