https://www.reuters.com/markets/what-direction-will-trade-war-take-watch-yuan-mcgeever-2025-04-03/ https://www.reuters.com/markets/what-direction-will-trade-wa.

https://www.reuters.com/markets/what-direction-will-trade-war-take-watch-yuan-mcgeever-2025-04-03/ https://www.reuters.com/markets/what-direction-will-trade-wa... > Beijing has previously said it won't go down the FX depreciation road, preferring to keep the yuan relatively "stable". But that was before Trump's self-styled "Liberation Day". Beijing's first response might be to try and negotiate with Washington to get the tariffs lowered. But if that fails, FX devaluation becomes a real option to offset the shock. They didn't take the negotiation route. We'll see what's next.