Trade Cases
August 7, 2019
Opinions Split on China Currency Manipulator Label
Written by Sandy Williams
The trade war with China escalated on Monday as China allowed its currency to weaken in retaliation for a new round of tariffs imposed by President Trump. The yuan fell to 7 per U.S. dollar, the lowest it has been in 11 years, making exports from China cheaper and more competitive versus the United States. China blamed the currency fall on Trump’s “unilateralism and trade protectionism measures and the imposition of increased tariffs on China.”
Trump reacted by declaring China a currency manipulator, which China vehemently denied.
