Free Republic

Last week, President Trump threatened to place a 10 percent tariff on $300 billion worth of Chinese imports on September 1 unless trade talks with China showed more sign of progress. Already, America has tariffed $250 billion of Chinese imports at 25 percent, and if tariffs are placed on the $300 billion basket of goods, this would increase tariffs on all Chinese imports to the United States.President Trump is unhappy that talks last week in Beijing between Chinese officials and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin broke down. He’s also unhappy that China hasn’t...

The decline of China’s yuan on Monday to its lowest level in 11 years against the US dollar could continue into 2020 amid the apparent shift in its policy stance by the Chinese authorities, who are showing increasing reluctance to provide concessions to resolve its trade war with the United States. The Chinese currency’s drop has also rattled the currency market, sending 11 regional currencies lower. The yuan slid 1.3 per cent to 7.0298 against the dollar on Monday in response to President Donald Trump’s threat to impose a new 10 per cent tariff on the US$300 billion of Chinese...