Under the proposed rule, so-called countervailing duties could be imposed when foreign governments “subsidise” their products by weakening its currency relative to the US dollar to gain competitive advantage, according to the US Commerce Department. Photo: Xinhua

China would not fall foul of US proposal to penalise currency manipulators, analysts say

  • US President Donald Trump seeking to penalise countries that allow their currency to fall against the US dollar to offset the impact of new US trade sanctions
  • The yuan has fallen about 8 per cent against the US dollar since the trade war started in July last year, but China does not meet the current criteria to be labelled a currency manipulator
Topic |   Currencies

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Under the proposed rule, so-called countervailing duties could be imposed when foreign governments “subsidise” their products by weakening its currency relative to the US dollar to gain competitive advantage, according to the US Commerce Department. Photo: Xinhua
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Food prices jumped 6.1 per cent in April due to higher pork and fruit prices, with pork price increases accelerating to 14.4 per cent from 5.1 per cent in March. Photo: Reuters

China’s middle class growing desperate and anxious about US trade war impact

  • Fears of trade war impact also appear to be affecting willingness to spend and prompting moves to safeguard wealth in foreign currencies and gold
  • Rising food prices and unemployment levels adding to concerns despite state and social media urging nation to stand strong in face of adversity
Topic |   US-China trade war

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Food prices jumped 6.1 per cent in April due to higher pork and fruit prices, with pork price increases accelerating to 14.4 per cent from 5.1 per cent in March. Photo: Reuters
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