The People’s Bank of China (PBOC) blamed the drop “to unilateral trade protectionism, as well as expectations of more tariffs on China”. Photo: AP

China blames Donald Trump’s trade war tariff threat as yuan weakens below 7 to the US dollar

  • First time yuan has dropped below level since offshore trading started in Hong Kong in 2010, and the lowest in the onshore market since April 2008
  • Drop came only days after the US president threatened to impose a new 10 per cent tariff on US$300 billion worth of Chinese products from September 1
Topic |   Currency war

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The People’s Bank of China (PBOC) blamed the drop “to unilateral trade protectionism, as well as expectations of more tariffs on China”. Photo: AP
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Donald Trump’s latest threat came less than 48 hours after the conclusion of a “constructive” round of talks in Shanghai. Photo: Bloomberg

Donald Trump’s tariff threat pushing China to make final make-or-break choice, analysts say

  • The US president has threatened to impose 10 per cent tariffs on the remaining US$300 billion in Chinese imports from September 1
  • Threat came less than 48 hours after the conclusion of a ‘constructive’ round of talks in Shanghai aimed at ending the year-long trade war
Topic |   US-China trade war

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Donald Trump’s latest threat came less than 48 hours after the conclusion of a “constructive” round of talks in Shanghai. Photo: Bloomberg
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