The trade relations between the two largest global economies further soured after the United States announcement accusing China as a ‘currency manipulator’. US Treasury Department branded this title to China after Chinese yuan saw a sharp fall in comparison to the US dollar.
A week ago, the Chinese government vowed to strike back against 10 % tariffs on $300bn of Chinese products. Now, Chinese yuan crossed the seven-per-dollar limit which infuriated President Donald Trump to blame Beijing for currency manipulation.
The latest move by China is really important as US-China trade negotiation on tariffs issue is continuing. Surprisingly, China has contributed well in fulfilling Mr. Trump campaign undertaking to title Beijing a currency manipulator. However, the currency fall has rattled the investors and Wall Street’s stock market experienced the worst trading of 2019.
Read More: Top World News
Copyright © 2019 Ghanalive.TV. All Rights Reserved.