Washington surprised Beijing with the “currency decision” … a step two days ago

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Congress that The value of the yuan Though strengthened China It is no longer considered, in the eyes of United State, A country manipulating the price of its currency to boost its exports.

The ministry was incorporated on August 5, by order of the president Donald TrumpChina is on the list of countries that devalue their currencies against the dollar in order to boost their exports at the expense of American exports.

But China will nevertheless remain on the list of 10 countries under observation, and these countries are in addition to China, Switzerland, Germany, South Korea, Ireland, Italy, Japan, Malaysia, Singapore and Vietnam, according to the document issued by Treasury Department.

Since March 2018, a fierce trade war has taken place between the United States and China, during which the world’s two largest economic powers have exchanged tight customs tariffs on hundreds of billions of dollars in annual trade exchanges.

A move US Department of the Treasury Just two days before Trump signed on "The first stage" From a trade agreement that the two countries have reached.

Last August, the Chinese authorities allowed its national currency to drop its price to more than 7 yuan to the dollar, a level unprecedented a decade ago, which caused tension in stock markets and stoked Trump’s anger.

In its semi-annual report, the Treasury said it is "During the summer, China took concrete steps to devalue its currency", Which caused the yuan to depreciate "To its weakest level against the dollar in more than 11 years".

China recently boosted its currency to 6.93 yuan to the dollar.

The US Treasury Secretary said, Stephen MnuchinIn a statement, "China has made positive commitments to refrain from devaluing its currency for competitive purposes and not to set its exchange rate for competitive purposes".

However, this commitment is not new. Beijing has previously pledged to do the same as a member of the G20 group of the world’s largest economies.

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The ministry said in its semi-annual report to Congress that The value of the yuan Though strengthened China It is no longer considered, in the eyes of United State, A country manipulating the price of its currency to boost its exports.

The ministry was incorporated on August 5, by order of the president Donald TrumpChina is on the list of countries that devalue their currencies against the dollar in order to boost their exports at the expense of American exports.

But China will nevertheless remain on the list of 10 countries under observation, and these countries are in addition to China, Switzerland, Germany, South Korea, Ireland, Italy, Japan, Malaysia, Singapore and Vietnam, according to the document issued by Treasury Department.

Since March 2018, a fierce trade war has taken place between the United States and China, during which the world’s two largest economic powers have exchanged tight customs tariffs on hundreds of billions of dollars in annual trade exchanges.

A move US Department of the Treasury Just two days before Trump signed the “first phase” of a trade agreement the two countries reached.

Last August, the Chinese authorities allowed its national currency to drop its price to more than 7 yuan to the dollar, a level unprecedented a decade ago, which caused tension in stock markets and stoked Trump’s anger.

“During the summer, China took concrete steps to devalue its currency,” which caused the yuan’s price to drop “to its weakest level against the dollar in more than 11 years,” the Treasury said in its semi-annual report.

China recently boosted its currency to 6.93 yuan to the dollar.

The US Treasury Secretary said, Stephen Mnuchin, In a statement that “China has made positive commitments to refrain from devaluing its currency for competitive purposes and by not setting its exchange rate for competitive purposes.”

However, this commitment is not new. Beijing has previously pledged to do the same as a member of the G20 group of the world’s largest economies.





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