As fresh U.S. tariffs send shockwaves through global and Asian markets, China’s central bank has remained to keep its currency stabile over a sharp devaluation — for now. On Monday, the People’s Bank of China (PBOC) set the yuan’s daily midpoint at 7.1980 per U.S. dollar, a four-month low, but crucially still shy of the symbolic…
Global equities extended their sharp decline on Friday after China unveiled a new wave of retaliatory tariffs against the United States, deepening concerns over a full-blown trade war and its economic repercussions. Beijing announced a 34% tariff on a wide range of American goods, prompting another market selloff that capped one of the worst weeks…
China issued a pointed response to sweeping new U.S. tariffs on Saturday, condemning the measures as economically reckless and politically damaging, while pointing to the global market selloff as proof of their destabilizing impact. With stock markets around the world sliding sharply—Wall Street saw its worst week since the pandemic—Beijing warned Washington against using trade…
