US Treasury Secretary Steven Mnuchin says Beijing’s non-intervention in foreign exchange markets might be the reason for the decrease in the value of the yuan. Photo: EPA-EFE
China is letting value of yuan slide to offset trade war tariffs, US Treasury Secretary Mnuchin says
- Currency’s slump is not a coincidence and could be the result of Beijing not intervening in markets, politician says
- Chinese firms are absorbing a large part of the tariff rise to prevent price increases being passed on to US consumers, he says
Topic |
US-China relations
US Treasury Secretary Steven Mnuchin says Beijing’s non-intervention in foreign exchange markets might be the reason for the decrease in the value of the yuan. Photo: EPA-EFE