# China is letting value of yuan slide to offset trade war tariffs, US Treasury Secretary Mnuchin says | South China Morning Post

> US Treasury Secretary Steven Mnuchin accused China of letting the yuan slide from about 6.30 to 6.90 per dollar to offset US tariffs. He said the lack of intervention after long periods of support signals a desire for a weaker currency.

- Date: 2019-06-08 · published 2019-06-08T12:00:00.000Z
- Category: policy · region China · magnitude medium
- Page: https://feedsoft.ai/events/58822-china-is-letting-value-of-yuan-slide-to-offset-trade-war-tariffs-us-treasury
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A deliberate yuan depreciation to offset tariffs makes US farm goods costlier for Chinese buyers and raises the risk of continued trade friction, which is bearish for US soybean and feed grain export demand.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-01-06 | [China moves to curb yuan rally pressure due to hot money and export concerns \| South China Morning Post](https://feedsoft.ai/events/49366-china-moves-to-curb-yuan-rally-pressure-due-to-hot-money-and-export-concerns.md) | +0.1% | +0.3% |
| USDCNY | 2024-11-26 | [China's yuan slides to four-month low on Trump's tariff promise \| Reuters](https://feedsoft.ai/events/27628-china-s-yuan-slides-to-four-month-low-on-trump-s-tariff-promise-reuters.md) | +0.6% | +0.8% |
| USDCNY | 2025-05-07 | [China injects 'tactical' monetary stimulus ahead of US trade meeting \| Reuters](https://feedsoft.ai/events/9621-china-injects-tactical-monetary-stimulus-ahead-of-us-trade-meeting-reuters.md) | -0.1% | -0.4% |
| USDCNY | 2020-10-28 | [Yuan eases after China tweaks fixing formula to rein in strength \| Financial Post](https://feedsoft.ai/events/50848-yuan-eases-after-china-tweaks-fixing-formula-to-rein-in-strength-financial-post.md) | -0.4% | -1.9% |
| USDCNY | 2017-09-10 | [China Is Striving to Contain Its Once-Diving, Now-Thriving Yuan](https://feedsoft.ai/events/9413-china-is-striving-to-contain-its-once-diving-now-thriving-yuan.md) | +1.1% | +2.7% |
| SOY | 2025-04-23 | [US-China tariffs continue to hold sway over trade \| World Grain](https://feedsoft.ai/events/14671-us-china-tariffs-continue-to-hold-sway-over-trade-world-grain.md) | +0.6% | +1.7% |
| SOY | 2024-11-26 | [China's yuan slides to four-month low on Trump's tariff promise \| Reuters](https://feedsoft.ai/events/27628-china-s-yuan-slides-to-four-month-low-on-trump-s-tariff-promise-reuters.md) | +0.6% | -1.1% |
| SOY | 2023-01-10 | [China’s soybean imports have peaked and will keep falling as Beijing stresses food security, report says \| South China Morning Post](https://feedsoft.ai/events/14875-china-s-soybean-imports-have-peaked-and-will-keep-falling-as-beijing-stresses.md) | +2.4% | +0.8% |

## Sources

- scmp.com: https://www.scmp.com/news/china/diplomacy/article/3013678/china-letting-value-yuan-slide-offset-trade-war-tariffs-us

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