Trump’s Tariff Threat Prompts China to Consider Yuan Devaluation

CN
3 months ago

China’s top leaders are considering allowing the yuan to weaken in 2025 to counter potential U.S. trade tariffs under Donald Trump’s presidency. Trump plans to impose a 10% universal import tariff and a 60% tariff on Chinese imports. A weaker yuan could make Chinese exports cheaper, mitigating the tariff impact, and creating looser monetary settings in mainland China. However, this move would deviate from China’s usual practice of maintaining a stable foreign exchange rate. The yuan is tightly managed, allowed to fluctuate only 2% on either side of a daily mid-point set by the central bank. Despite this, China’s leaders recognize the need for bigger economic stimulus to combat Trump’s trade threats.

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