So far the weakness in $CNY has almost countered a tariff-rate of 10% one to one.
If China wants to counter a 25% tariff-rate via FX, USD/CNY needs to go to 7.91
Lets see how the US tariff hearings will play out later this week pic.twitter.com/ySO8fUPWp7
— Andreas Steno Larsen (@AndreasSteno) August 21, 2018
Should China be threatened with expulsion from the World Trade Organization? It may be a better way to stop China's interventionist and discriminatory behavior than unilateral tariffs. My column explores. https://t.co/JchUTthT6r pic.twitter.com/na14g2zB5j
— Greg Ip (@greg_ip) August 22, 2018