How much will China devalue the yuan due to the U.S. tariffs?
On February 1, 2025, the U.S. government announced a 10% tariff on all goods imported from China, citing issues such as fentanyl. This unilateral imposition of tariffs by the U.S. seriously violates World Trade Organization rules, and it not only fails to resolve its own problems but also undermines normal economic and trade cooperation between China and the U.S.
With the approval of the State Council, starting from February 10, 2025, tariffs will be imposed on certain imported goods originating from the U.S.
The relevant matters are as follows:
1. A 15% tariff will be imposed on coal and liquefied natural gas.
2. A 10% tariff will be imposed on crude oil, agricultural machinery, large-displacement vehicles, and pickup trucks.
3. For the imported goods listed in the attachments originating from the U.S., corresponding tariffs will be imposed on top of the existing applicable tariff rates; the current bonded and tax exemption policies will remain unchanged, and the tariffs imposed this time will not be exempted.