US President Donald Trump speaks to the media on the South Lawn of the White House on Wednesday. Photo: AP

Donald Trump doubles down on China trade strategy

  • US president insists eventual gains from elusive trade deal will offset short-term pain and stock market losses
  • ‘Our problem is not China,’ Trump declares as he hammers Federal Reserve again for not doing more to cut interest rates
Topic |   US-China trade war

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US President Donald Trump speaks to the media on the South Lawn of the White House on Wednesday. Photo: AP
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The Chinese yuan depreciated below 7 to the US dollar on Monday for the first time since 2008. Photo: AP

Donald Trump could be ‘laying groundwork for more tariffs’ by labelling China a currency manipulator

  • There is no direct US legal provision linking currency manipulation with tariff imposition, but it does free the US president up to take more unilateral action
  • Other courses of action include a ban on US government procurement from China, an end to trade talks and an investigation by the International Monetary Fund
Topic |   US-China trade war

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The Chinese yuan depreciated below 7 to the US dollar on Monday for the first time since 2008. Photo: AP
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