# Forex Market: Yuan weakest since December as China adds tariffs

> The yuan fell to 6.92 per dollar, its weakest since December, as China announced higher tariffs on $60 billion of US goods after the US raised tariffs on $200 billion of Chinese products. Concerns grew that China might sell its Treasury holdings as leverage.

- Date: 2019-05-13 · published 2019-05-13T12:00:00.000Z
- Category: trade · region China · magnitude high
- Page: https://feedsoft.ai/events/8441-forex-market-yuan-weakest-since-december-as-china-adds-tariffs
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Retaliatory tariffs on US goods threaten US farm export demand, particularly soybeans, and a weaker yuan makes US agricultural imports more expensive for Chinese buyers, pressuring US feed grain and soybean prices.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2019-05-13 | 1 | +0.8% | 3.9 | On 2019-05-13 the yuan fell to about 6.92 per dollar, its weakest since December, after China announced retaliatory tariffs on $60B of US goods, which directly explains the 0.80% one-day move. |
| SOY | 2019-05-13 | 1 | +3.4% | 5.0 | China's tariff hike on $60B of US goods on May 13 is the main trade shock hitting soybean demand expectations. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-07-09 | [As Tariffs Bite, China Cancels U.S. Soy Deals and Hunt Is on for New Export Markets](https://feedsoft.ai/events/63898-as-tariffs-bite-china-cancels-u-s-soy-deals-and-hunt-is-on-for-new-export.md) | -6.9% | +1.4% |
| SOY | 2018-07-18 | [Soymeal Market Remains Calm in China Despite Tariffs](https://feedsoft.ai/events/64010-soymeal-market-remains-calm-in-china-despite-tariffs.md) | +2.2% | +3.0% |
| SOY | 2025-04-04 | [Class III Milk Futures Drift Lower as China Tariff News Shakes Markets](https://feedsoft.ai/events/5644-class-iii-milk-futures-drift-lower-as-china-tariff-news-shakes-markets.md) | +1.7% | +3.7% |
| SOY | 2024-11-07 | [China’s yuan falls to near 3-month low on weaker fixing, tariff worries - Markets - Business Recorder](https://feedsoft.ai/events/6858-china-s-yuan-falls-to-near-3-month-low-on-weaker-fixing-tariff-worries-markets.md) | +1.0% | -0.1% |
| SOY | 2019-08-01 | [Oil plunges, down more than 6% after Trump adds tariffs on China](https://feedsoft.ai/events/8495-oil-plunges-down-more-than-6-after-trump-adds-tariffs-on-china.md) | -1.8% | -1.3% |
| CORN | 2024-11-07 | [China’s yuan falls to near 3-month low on weaker fixing, tariff worries - Markets - Business Recorder](https://feedsoft.ai/events/6858-china-s-yuan-falls-to-near-3-month-low-on-weaker-fixing-tariff-worries-markets.md) | -0.1% | -2.4% |
| CORN | 2025-04-21 | [Tariffs add to market uncertainty \| AJOT.COM](https://feedsoft.ai/events/16954-tariffs-add-to-market-uncertainty-ajot-com.md) | -0.1% | -5.5% |
| CORN | 2024-03-25 | [Limited impact on US agriculture from China tariffs \| Latest Market News](https://feedsoft.ai/events/14765-limited-impact-on-us-agriculture-from-china-tariffs-latest-market-news.md) | -4.9% | -6.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/05/13/forex-market-us-china-trade-war-g20-summit-in-focus.html

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