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China Is Running Out of U.S. Goods to Tariff, But It Has Other Trade War Weapons to Unleash

8 days ago   |   By Fortune

When President Donald Trump suddenly hiked tariffs on $200 billion worth of Chinese imports last week, China said it would respond with "necessary countermeasures." But then it announced a tariff increase on just $60 billion of U.S. goods. China simply doesn't import enough from the U.S. to match tariffs "tit-for-tat," hence the $140 billion shortfall in its retaliation. However, China has other aces up its sleeve.
Let the renminbi slip
China's softening economy coupled with the fallout of increased export tariffs will put downward pressure on its official currency, the renminbi, which is...
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