Business sentiment towards trade in China improved in May with a net 1.2% of managers surveyed by CFLP expecting a rise in exports vs. 0.7% a month earlier. That came against the backdrop of the strong manufacturing sentiment result since September. The increased optimism suggests managers expect the on-again, off-again trade spat between China and the U.S. to be resolved without significant duties applied. By contrast European managers appear more concerned about deteriorating trade relations with America.