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 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
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 /  Diplomacy

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
Karen Yeung
Karen Yeung

Updated: 9:44am, 9 Jun, 2019

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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 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
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
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