U.S. Labels China a Currency Manipulator After Beijing Pushes Down Yuan

Breitbart ^ | 5 Aug 2019 | BREITBART NEWS

[E. Pluribus Unum]

WASHINGTON (AP) — The U.S. Treasury Department labeled China a currency manipulator Monday after Beijing pushed down the value of its yuan in a dramatic escalation of the trade conflict between the world’s two biggest economies.

The decision, which came hours after President Donald Trump accused China of unfairly devaluing its currency, marks a reversal for Treasury: In May, it had declined to sanction China for manipulating its currency.

The U.S. has not put China on the currency blacklist since 1994.

The designation could pave the way for more U.S. sanctions against China.

Earlier Monday, China had allowed its currency to weaken to an 11-year low, a move that gives its exporters a price edge in world markets and eases some of the damage from U.S. tariffs on Chinese products.

[mrsmith]

And today China strengthened the Yuan LOL!
Lately China has been manipulating the Yuan TO KEEP IT STRONG.

Not a simple situation.

[reed13k]

Thought about this during a fight today ... currency stuff isn’t really my ball of wax..

If China weakens their yen then their exports are cheaper and they “shoud” be able to gen up more trade.

However, it will also mean that their own people can’t buy as much as they could before... inflation....unless they push their internal interest rates up to prevent it.

I’m guessing this is the “other” reason, besides a Trump response, they eased off some today. They started to get internal pushback or info on the internal response.

[reed13k]

flight not fight

[BipolarBob]

In other news, Gold keeps climbing higher. I sold too soon!

[BeauBo]

"The designation could pave the way for more U.S. sanctions against China."

From the Treasury Department:

"As a result of this determination, Secretary Mnuchin will engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China’s latest actions."

Looks like China will be under serious review, like it has not been in decades, by the IMF, WTO and International Postal Union; over just the next couple of months.

Maybe they are on the road to resuming pariah status, which the blood-soaked oppressive dictators of the Party elite richly deserve.

[Daniel II]

When we take away “Most Favored Nation” trading status, then I’ll know we’re serious.

[puppypusher]

Why does ‘t the U.S. treasury trash the Chicom currency even lower than the Chinese did? Ban the import of all Items made in China.

That will really wreck Chinas economy.

[minnesota_bound]

When my stock goes back up I will sell and wait to buy back. I know it can get to $34 a share as it did twice in July and was going to keep climbing when Trump made his tweet. Stocks dived off a cliff last week then China did it’s thing.

I expect something will happen in October. My uncle always told me not to hold stock come october as the big players are selling. Maybe I can pick up a good buy for the AMD stock I currently hold. I still have a profit but I want it to be the $7 higher price as it was just last week.

When all the stocks sink on Trump’s next tweet about tariffs then I will think about buying back the stock.