19-June-2026
Corporate News
 
Analysis-China's African Tariff Removals, Trade Surge Spur Yuan Adoption
19-Jun-2026

Surging Chinese trade with Africa and lifting of tariffs for most countries on the continent look set to boost yuan use, aiding Beijing's bid to build alternatives to Western finance. China-Africa trade rose by nearly 18% last year, customs data show, with tariff cuts on imports from 53 countries in May expected to increase flows and yuan-denominated settlements. International Monetary Fund research has found that yuan usage rises with trade exposure to China, which announced new measures on Wednesday to promote the global use of its currency. From Nigerian cattle bone pellets to Kenyan avocado oil and South African apples, Chinese ports are receiving more African cargo after the tariff elimination, boosting demand for settlement from yuan into local African currencies.

News Source:- https://money.usnews.com/investing/news/articles/2026-06-18/analysis-chinas-african-tariff-removals-trade-surge-spur-yuan-adoption