Xi better prepared for Trump even as 60% tariffs risk chaos

Quick Summary:

China has taken strategic steps to ensure it’s more resilient and well positioned to strike back - but it also has more to lose.

While China’s last formal devaluation was in 2015, during the thick of the first trade spat from mid-2018 to mid-2019 authorities allowed the yuan to fall to almost 7.2 to the dollar, making its exports cheaper and providing some cushion to Trump’s tariffs.

BEIJING – When Donald Trump first started a trade war with China in 2018, Beijing found itself on the back foot and unsure of how to respond.

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Article Details

Category: EconomyBusiness

Markets: SingaporeBrazilChinaUnited States

Topics: China Trade Tariffs Beijing Cent First Trump Exports Goods President Chinese

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 10:26:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1423 words

Reading Time: 8 minutes read

Sentences: 48 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23455192

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 6 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 14 hours ago

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Publisher ID: #25

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