China has kept the renminbi’s exchange rate with the dollar steady in its first official currency fix since US President Donald Trump hit the country with tariffs. The People’s Bank of China on Wednesday set the rate at Rmb7.169 a dollar, close to the level before a more than week-long lunar new year holiday.

Beijing announced tariffs on Tuesday on some American imports including crude oil, agricultural machinery and liquefied natural gas, in retaliation for the Trump administration’s imposition of 10% tariffs on Chinese imports into the United States.