The Chinese yuan has weakened significantly against the dollar since Trump announced the U.S. would add 10% tariffs on $300 billion worth of Chinese imports, in addition to the 25% already levied on $250 billion worth of Chinese goods on Aug. 1.
Why it matters: But since the "Phase 1" trade deal, the yuan has strengthened and is close to falling back below 7-to-1 versus the dollar.