China could devalue yuan to spite Trump – JP Morgan ...News

Beijing’s potential move is a likely response to US tariff hikes, analysts believe An anticipated shift in trade policy during Donald Trump’s second term as US president, including a drastic hike in tariffs on Chinese products, could see the yuan depreciate by up to 15%, according to JPMorgan Chase, as cited by Bloomberg. In a note dubbed “Bracing for a storm” seen by the outlet, the analysts projected US import taxes on Chinese goods to be raised to 60% from the current 20% level, with fresh levies to hit imports from Malaysia and Vietnam. The Chinese government could devalue the yuan in response, and impose reta

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