BEIJING — China faces growing risks of stagflation as it imposes retaliatory tariffs on U.S. goods and allows the yuan to weaken to its lowest level in nearly two decades, seeking ways to ease the trade war’s effect on Chinese exports.
An increased duty of 84% on all goods imported from the U.S. took effect Thursday. The Chinese levies were in response to sweeping “reciprocal” tariffs announced last week by U.S. President Donald Trump.
