Contact Us
News

Trade Troubles Grow Between US And China

Placeholder

Building political pressures at home are contributing to some of the strongest tension between the US and China in years. The problem: currency and trade policies.

The yuan has fallen to a five-year low against the dollar, and US firms are charging that Beijing is intentionally devaluing its currency to gain a competitive advantage in the world marketplace, the Wall Street Journal reports. In response, the Obama administration has made several trade complaints and increased duties on several Chinese imports, adding a 266% duty on Chinese cold-rolled steel imports.

Donald Trump has threatened to throw a 45% tariff on all Chinese imports should he become president, making it look like trade tensions aren’t going to disappear overnight. [WSJ]