Chinese Embassy officials in the US warned Monday that a trade war between the two countries would have no winners after president-elect Donald Trump reiterated plans to impose additional tariffs on Chinese Imports in a statement to the Press Chinese Embassy spokesperson Lou pongu said quote China believes that China US economic and trade cooperation is mutually beneficial in nature no one will win a trade war or a Terra for in his announcement Trump accused Chinese authorities of failing to act against the influence fentanyl into the US and said the tariffs would remain until this was stopped Lou dismissed Trump's accusation pointing to an agreement between Chinese president xiin ping and President Joe Biden to crack down on the drug trade and said quote the idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality shortly after Trump's announcement the Chinese Yan slumped to a 4-month low of 7. 27 th0 per dollar the Canadian currency SL bumped to 1. 41 per us its worst level in more than 4 years while the Mexican peso stumbled to 20.
5 per dollar Trump's announcement also hit Asian stocks with Japan's Nik 225 index dropping nearly 2% Japanese carmakers Nissan and Toyota which have major production facilities in Mexico were the worst hit with Nissan's shares dropping 4. 9% at 1 Point while Toyotas fell 2. 9% before recovering slightly to 3.
