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Fortune

Jason Ma

China has a 'trick up its sleeve' to fight Trump's tariff as Beijing keeps response muted for now, former IMF adviser says

International Monetary Fund China Beijing Donald Trump Mexico Canada United States

(Credit: Qilai Shen—Bloomberg via Getty Images)

Unlike Canada and Mexico, China hasn't yet announced retaliatory tariffs after Trump unveiled his long-awaited levies on Saturday. Beijing may not have to go that route as it has a "trick up its sleeve" in the form of currency devaluation, a former IMF adviser said.

President Donald Trump's tariffs were quickly met with vows from Mexico and Canada to retaliate in kind, but China has been more vague with its response and may not have to follow suit.

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