US Trade Representative Robert Lighthizer, Chinese Vice Premier Liu He and US Treasury Secretary Steven Mnuchin during trade talks in Washington in October. Photo: Kyodo

China, US agree to keep yuan exchange rate stable as part of trade deal, Beijing confirms

  • Chinese economic official confirms trade deal between Washington and Beijing will include currency clause to keep the yuan ‘basically stable’
  • Currency agreement could pave the way for the US to remove its designation of China as a currency manipulator
Topic |   US-China trade war

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US Trade Representative Robert Lighthizer, Chinese Vice Premier Liu He and US Treasury Secretary Steven Mnuchin during trade talks in Washington in October. Photo: Kyodo
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Negotiations in Washington last week between China and the United States appeared to have made progress towards a “phase one” trade deal. Photo: Reuters

China-US currency deal would not be a new Plaza Accord of one-sided exchange rate movement, analysts say

  • Currency provisions are expected to be included in any interim deal between China and America following progress made during talks last week in Washington
  • The 1985 Plaza Accord saw Japan, France, Germany, Britain and the US push down the value of the US dollar, resulting in the Japanese yen doubling in value
Topic |   US-China trade war

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Negotiations in Washington last week between China and the United States appeared to have made progress towards a “phase one” trade deal. Photo: Reuters
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