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In fact, China`s policymakers have appeared to be supporting their currency in recent months, not trying to push it lower.
If U.
S.
President Donald Trump proceeds with plans to label China a currency manipulator, the confrontation would likely escalate beyond trade, David Roche, global strategist at Independent Strategy, told CNBC on Monday.
By those standards, China doesn`t match the definition.
During his campaign, Trump vowed to label the country a currency manipulator for the purposes of a competitive trade advantage on his first day in office and threatened to impose a tariff of as much as 45 percent on China`s exports to the U.
S.
On Thursday, U.
S.
Treasury Secretary Steven Mnuchintold CNBC that the administration would stick to the existing process to judge whether China was a currency manipulator.
"Although there are actually no economic grounds, according to the U.
S.
Treasury`s own criteria, for judging a country to be a currency manipulator, I believe on the grounds of politics, Trump will force this through his Republican support and that`ll be the start of a confrontation with China, which I think is actually the point at which the proverbial soft stuff hits the fan," Roche told CNBC`s "Squawk Box" on Monday.

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