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Yuan falls to 2007 lows as US tariffs on China kick in

  • The Chinese yuan has weakened to 7.4290 per U.S. Dollar as trade tensions rise, marking a significant decline in value amid new U.S. tariffs on China.
  • The People's Bank of China set the central parity rate at 7.2038 on April 8, the first rise above 7.20 since September 2023.
  • China plans to impose a 34 percent tariff on U.S. Imports starting April 10, alongside export controls on U.S. Companies.
  • Stock markets in China and Hong Kong fell sharply due to trade tensions, with the Hang Seng Index dropping by 13.22 percent, its largest loss since 1997.
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Il Fatto Quotidiano broke the news in Rome, Italy on Tuesday, April 8, 2025.
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