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The global trade war has morphed into a currency war. Here’s why that’s a scary proposition for markets.
"A trade war that was supposed to be easy to win seems like it's going to be hanging around for a long time," said Dan Ikenson of the Cato Institute.
China takes measures to keep the yuan from plummeting further, stabilizing markets after 2019’s worst rout
The move by the People's Bank of China to fix the yuan higher than analysts expected pushed its exchange rate back above a key psychological level.
China is not a currency manipulator by the US Treasury's own definition and nothing the White House has said on this matter makes any sense.
US declaration of China as currency manipulator roils global financial markets from the Americas to Asia
The US Treasury had previously held off labelling Beijing a currency manipulator, but made the announcement after US stocks plummeted, the yuan weakened and Beijing announced that it would suspend purchases of US agricultural goods
Trump’s right on the money: IMF finds the US dollar is overvalued, the Euro is undervalued for Germany
"Whilst Trump has never been the biggest fan of the IMF, he may very well be now!"
China's government has hit out at the Trump administration, accusing the US president of "bullying" over his aggressive tactics in the trade conflict between the two nations and saying it will "rise up" should things escalate further.
Trump doubles down on claims that China and the EU are currency manipulators and warns: ‘I’ll still win’
"What they’re doing is making up for the fact that they’re now paying ... hundreds of millions of dollars and in some cases billions of dollars into the United States Treasury," Trump told Reuters.
Currency manipulation is something the Treasury Department pays close attention to.
President Donald Trump signaled a major reversal on two campaign promises during an eye-opening interview with The Wall Street Journal on Wednesday.
Trump has repeatedly ripped China for what he calls unfair trade policies and currency manipulation.