World stocks mixed after China rate cuts, Japan export gain

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Global stocks are mixed after China cut interest rates and President Joe Biden said “we’re not there yet” on lowering punitive tariffs on Chinese goods. London and Tokyo gained while Shanghai and Frankfurt declined. Wall Street futures were higher a day after the benchmark S&P 500 index lost 1%. The Chinese central bank cut rates after growth in the world’s second-largest economy sank following a crackdown on surging debt among real estate developers. Biden said it was uncertain when his administration could lift tariffs imposed by his predecessor, Donald Trump, on Chinese imports beginning in 2018 in a fight over technology and trade.