Black Barth News

Alternative news and uncensored information from around the world.

TRADE WAR: China devalues yuan after Trump threatens tariffs in HUGE threat to US


THE TRADE war raging between China and the United States shows signs of spilling over into a battle over currency after Beijing’s central bank devalued its yuan against the dollar.

The People’s Bank of China dropped the dollar’s reference rate to 6.7671 yuan – the most radical weakening of the currency in two years.

A cheaper yuan will make Chinese exports less expensive and has the potential to boost sales overseas.

The move came just hours after President Donald Trump threatened to slap tariffs on $500billion worth of Chinese goods.

Mr Trump has previously accused China of manipulating its currency to gain an unfair advantage over American businesses, a message he reiterated via Twitter yesterday.

Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By :