Thu Apr 10 07:40:00 UTC 2025: ## Offshore Yuan Plunges to 10-Year Low Amid US Tariff Hike
**Beijing, April 9** – The offshore yuan (CNH) plummeted to a more than 10-year low against the US dollar overnight, breaching the 7.35 and 7.40 thresholds, reaching 7.4285, following the announcement of further US tariffs on Chinese goods.
The White House announced late Saturday (US Eastern Time) that the US would impose an additional 50% tariff on Chinese imports starting Sunday. This brings the total US tariffs on all Chinese goods to a staggering 104%, according to White House Press Secretary Leviet. The announcement sent ripples through the markets, leading to a sharp depreciation of the CNH.
The escalating trade war between the US and China continues to exert significant pressure on the Chinese currency. Analysts are closely monitoring the situation for further potential economic repercussions.
First Piper 