A sharp pullback in China's export orders shows President Trump’s eye-watering tariffs are starting to squeeze the engine room of China’s economy, piling pressure on Beijing to boost its stimulus efforts.

"You don't know whether or not China's going to eat it," Trump said of the potential for tariffs on Chinese goods to increase consumer prices.

Monthly surveys of Chinese factory managers shows export orders slowed in April as higher tariffs on U.S. imports began to kick in.