From trade to currency war: US-China spat getting uglier on markets


Money-pulating: Stacks of 100-yuan notes at a bank in Nantong in China’s eastern Jiangsu province.China has rejected accusations by Trump that it was manipulating the yuan to give its exporters an edge, saying Washington appeared “bent on provoking a trade war”. — AFP

THE current trade spat between the United States and China first started with President Donald Trump’s domestic agenda of “protecting the national security” and to punish the nations, which are enjoying massive trade surpluses with the US, which, we all know to be China and to a lesser extent, the Asian-based and other emerging markets exporting nations.

To be exact, Trump made his first move towards “protectionism” on Jan 23 this year with the imposition of 30% and 20% import tariffs on solar panels and washing machines respectively. Although, not specifically targeting at China, it was no surprise that China, being the world leader in solar panel manufacture and exporter of washing machines worth some US$425mil a year, had condemned the actions, deeming it as aggravating to the global trade environment.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Pankaj Kumar

   

Next In Business News

CGS MY rebrands, targets to hit over RM300mil revenue by 2027
Prime residential, KL city submarket expected to stay dynamic - JLL Malaysia
JD Sports to buy US rival Hibbett in US$1.08bil sportswear retail deal
Gold prices hit 2-1/2-week low as Middle East tensions ease
Oil prices stabilise, Middle East tensions remain in focus
Sunway Property to preview RM1.28bil Sunway Velocity 3 on May 4
More funding needed for developers
Citi appoints Amit Dhawan as head of Citi Commercial Bank for Singapore
Cypark's LSS3 hybrid solar plant achieves initial operations
Asian shares extend gains ahead of tech earnings, yen fragile

Others Also Read