The president-elect's threats to slap tariffs of up to 45 percent on Chinese imports cast a shadow over the economy's stabilization and the world's most crucial trade relationship. Protectionism may fuel more international use of the yuan, according to Standard Chartered Plc, while UBS Group AG says tariffs may push the PBOC to let the yuan fall further.


Even before Trump takes office Jan. 20, there's reason to think his campaign threats to impose tariffs and label China a currency manipulator may be tempered by the reality of governing. He's already signaled there may be some watering down of other contentious issues such as building a wall on the Mexican border and scrapping President Barack Obama's health care program.

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