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The United States imports textiles from China. Illustrate how does a 25% U.S. tariff impact U.S. imports, Chinese exports, and production, consumption, and prices in

The United States imports textiles from China. Illustrate how does a 25% U.S. tariff impact U.S. imports, Chinese exports, and production, consumption, and prices in both countries? Illustrate how does a 25% Yuan devaluation against dollar by China impact U.S. imports, Chinese exports, and production, consumption, and prices in both countries? Now consider a simultaneous implementation of a 25% U.S. tariff and a 25% Yuan devaluation against dollar by China. Illustrate how these two policies impact U.S. imports, Chinese exports, and production, consumption, and prices in both countries. Why would China devalue its currency against the US dollar?

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