Fearing a U.S. tariff barrage, Beijing hopes to use “proactive” tariff cuts and investment offers to peel away American partners in Europe and Asia.

China has approved a six trillion yuan ($837 billion) plan to bolster its ailing economy by allowing local governments to swap out their hidden debt, unveiling additional stimulus measures to counter a potentially volatile growth path marked by the impending return of Donald Trump to the White House.

China is expected to announce much-anticipated steps to boost its flagging economy at the end of this week's meeting of its legislature on Friday.

Fashion house Steve Madden says it will reduce the goods it sources from China to limit exposure to potential tariffs under the incoming Trump administration. Steve Madden, which makes trendy footwear,

The footwear- and accessory-maker says it already has a plan in place to reduce its reliance on imports from China.