During his presidency, Donald Trump attempted to alleviate the U.S. trade deficit by passing a series of tariffs on Chinese exports. Prior to President Trump taking office, the U.S. had an average tariff rate of 3.1% on Chinese exports but by February of 2020 the average tariff rate had increased to 19.3%. During the same time period, the U.S. dollar appreciated from 6.27 Chinese yuan to 7.10 yuan per U.S. dollar. Using the foreign exchange market, explain how the implementation of the tariffs would change the yuan/dollar exchange rate. Is this consistent with what we observed in the data?