# Yuan jumps to 2-week high as Beijing cuts tariffs on some US goods - The Business Times

> China's yuan jumped to a two-week high against the dollar after Beijing announced it would halve tariffs on some US imports effective February 14. Beijing said it hopes to eventually scrap all tariffs in bilateral trade, about three weeks after the Phase 1 trade deal was signed.

- Date: 2020-02-05 · published 2020-02-05T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/5136-yuan-jumps-to-2-week-high-as-beijing-cuts-tariffs-on-some-us-goods-the-business
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Tariff cuts signal de-escalation in the US-China trade dispute and may support future US export flows to China. A stronger yuan also eases the cost of Chinese imports.

## Read by commodity

- SOY: bullish ▲
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-06-01 | [Yuan ends domestic session at 1-1/2 week high despite China-US tensions - Business & Finance - Business Recorder](https://feedsoft.ai/events/52832-yuan-ends-domestic-session-at-1-1-2-week-high-despite-china-us-tensions.md) | -0.8% | -0.8% |
| USDCNY | 2020-06-02 | [Yuan ends near 2-week high, PBOC's plan to buy bank loans nudges forwards up - Business & Finance - Business Recorder](https://feedsoft.ai/events/52829-yuan-ends-near-2-week-high-pboc-s-plan-to-buy-bank-loans-nudges-forwards-up.md) | -0.8% | -0.7% |
| USDCNY | 2021-10-26 | [China's yuan inches higher after Sino-US talks - Markets - Business Recorder](https://feedsoft.ai/events/44775-china-s-yuan-inches-higher-after-sino-us-talks-markets-business-recorder.md) | +0.2% | +0.1% |
| USDCNY | 2020-06-19 | [Yuan firms on report China will speed up US farm purchases - Markets - Business Recorder](https://feedsoft.ai/events/52828-yuan-firms-on-report-china-will-speed-up-us-farm-purchases-markets-business.md) | -0.1% | -1.4% |
| USDCNY | 2018-11-02 | [Yuan in biggest weekly gain since January as Trump asks cabinet to draft possible China trade deal \| South China Morning Post](https://feedsoft.ai/events/62269-yuan-in-biggest-weekly-gain-since-january-as-trump-asks-cabinet-to-draft.md) | +0.2% | -0.6% |
| SOY | 2024-06-01 | [Soyoil Jumps on Bets US Tariffs to Include Chinese Cooking Oil](https://feedsoft.ai/events/30339-soyoil-jumps-on-bets-us-tariffs-to-include-chinese-cooking-oil.md) | -2.1% | -3.8% |
| SOY | 2026-04-12 | [Soybeans hit two-week high as soymeal jumps - Markets - Business Recorder](https://feedsoft.ai/events/11663-soybeans-hit-two-week-high-as-soymeal-jumps-markets-business-recorder.md) | -0.7% | +1.6% |
| SOY | 2019-10-23 | [Palm oil jumps to 16-month high as China’s waivers boost soy \| The Star](https://feedsoft.ai/events/56666-palm-oil-jumps-to-16-month-high-as-china-s-waivers-boost-soy-the-star.md) | -1.7% | -2.4% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/banking-finance/yuan-jumps-2-week-high-beijing-cuts-tariffs-some-us-goods

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.