China Vows To ‘Fight To The End’ On Trump Tariffs, Paving Way For Yuan Depreciation, Easing That Boosts Bitcoin
China’s vow to ”fight to the end” Donald Trump’s tariffs may lead to yuan depreciation and easing policies that will help boost Bitcoin, analysts said. China’s response came after US President Donald Trump said on April 7 that he would impose additional 50% tariffs on China imports if it does not reverse its 34% reciprocal tariffs on the US. “The US threat to escalate tariffs on China is a mistake on top of a mistake,” China’s Commerce Ministry said in an April 8 statement. ” If the US insists on its own way, China will fight to the end.” China eased its grip on the yuan today, allowing it to depreciate to 7.2038 per dollar, the weakest it’s been since September. The 7.2 level has been considered a line in the sand for China’s central bank for years, and the decision to let the currency weaken beyond this level could signal a shift to managed depreciation of the yuan. Bitcoin Could Surge Like In 20...