Chinese Yuan Falls to Lowest Level Since 2007 After Trump Tariffs Kicked In

President Trump and Chinese leader Xi Jinping during Trump’s first full term in office.

President Trump’s “reciprocal” tariffs on dozens of countries including China took place on Wednesday. That included the 104% tariff on Chinese goods entering the US.

Already, the administration’s tariffs plan are specifically hitting China hard.

The Chinese yuan fell to its lowest level in 17 years since 2007. On Wednesday the yuan ended the day at 7.3498 to the US dollar.

China has turned...