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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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.