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China’s potential weapons against US tariffs could backfire on its growth — here’s why

  • Due to China’s massive trade surplus over the U.S., China can’t keep up with the magnitude of Trump’s levies — Beijing doesn’t buy enough American goods on which to impose the equivalent volume of tariffs.
  • China may further devalue the yuan — down 8 percent since May — to help its exports, but too much depreciation could trigger capital flight.
  • So far, Washington has slapped duties on $50 billion worth of Chinese goods, and a fresh $200 billion more could be facing the same fate this month. In turn, China has imposed tariffs on $50 billion of U.S. goods and threatened another $60 billion.
 

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