• Mnuchin warns China about devaluing its currency

    2 monthes ago - By Business Insider

    The US has warned China not to engage in competitive devaluation.
    China's currency, the yuan has dropped nearly 9% in the past six months.
    Watch the Chinese yuan trade in real time here.
    As trade tensions between the world's largest economies continue to escalate, the US has warned China not to weaken its currency as an alternative to tariffs.
    "As we look at trade issues there is no question that we want to make sure China is not doing competitive devaluations," Treasury Secretary Steve Mnuchin told the Financial Times in an interview published Wednesday. "We are going to absolutely want...
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  • Mnuchin warns China against devaluing currency, says yuan agreement must be part of trade deal

    Mnuchin warns China against devaluing currency, says yuan agreement must be part of trade deal

    2 monthes ago - By CNBC

    Treasury Secretary Steven Mnuchin tells the Financial Times he wants to include an agreement on currency in the China trade deal.
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  • Trump and China look headed for a double-barrelled trade and currency war with neither backing down

    Trump and China look headed for a double-barrelled trade and currency war with neither backing down

    2 monthes ago - By Business Insider

    China hit out at Trump, accusing the US president of "bullying" over his aggressive tactics in the trade conflict between the two nations.
    It warned, however, that it is ready to "rise up" to an escalated trade war.
    "This unyielding nation suffered foreign bullying for many times in history, but never succumbed to it even in the most difficult conditions," commerce minister Zhong Shan said.
    Separately, US Treasury secretary Steven Mnuchin said that his department continues to monitor China's actions with regards to its currency, the renminbi.
    China's government has hit back at the Trump...
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