China's yuan eases as industrial profits extend decline
==========

China's yuan weakened against the U.S. dollar on November 27, 2024, nearing a 4-month low; industrial profits fell 10% in October 2024, following a 27.1% decline in September; spot yuan opened at 7.2460 per dollar and traded at 7.2561 per dollar; U.S. President-elect Donald Trump announced plans for tariffs of 25% on products from Mexico and Canada and 10% on Chinese goods starting January 2025; during Trump's first term, the yuan weakened about 5% against the dollar due to tariffs; the People's Bank of China set the midpoint rate at 7.1982 per dollar.

#China #Yuan #Economy #Tariffs #DonaldTrump #IndustrialProfits #UsDollar #Finance #MarketTrends #Trade

https://www.nst.com.my/business/economy/2024/11/1140306/chinas-yuan-eases-industrial-profits-extend-decline