Decline of China’s currency lessens bite of U.S. tariffs

Amy Scott Aug 2, 2018
HTML EMBED:
COPY

Decline of China’s currency lessens bite of U.S. tariffs

Amy Scott Aug 2, 2018
HTML EMBED:
COPY

The trade story of the day is actually more of a currency story. As you know, the Trump administration has proposed another round of tariffs on some $200 billion worth of Chinese products — ranging from tobacco to dog food to plywood. Now, the president is threatening to more than double the size of that tariff from 10 percent to 25 percent. One reason: the falling value of China’s currency. The yuan is trading at a 14-month low against the U.S. dollar, blunting the intended effect of those tariffs.

Click the audio player above to hear the full story. 

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.