While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

No One Will Win a Trade War,' China Says After Trump Tariff Threat WASHINGTON (Reuters) - Neither the United States nor China would win a trade war, the Chinese Embassy in Washington said on Monday, after U.

On Truth Social, Trump alleged that Chinese inaction on illegal fentanyl was the reason behind the new 10% tariff.

The yuan fell against the U.S. dollar to its weakest in nearly four months after U.S. President-elect Donald Trump said he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China.

Trump said he plans to raise tariffs 25% on Mexico and Canada and an additional 10% on China on his first day in office.