Yesterday the Trump administration confirmed that no country, not even China, was deliberately trying to gain a trade advantage by deliberately weakening their currency. Since 1988 the US Treasury has been mandated to carry out a 6-monthly review on the subject which might lead to trade sanctions, with Steven Mnuchin adding, ‘’Treasury takes seriously any potentially unfair currency practices’’. Nine nations are on the monitoring list: China, Germany, Ireland, Italy, Japan, South Korea, Malaysia, Singapore and Vietnam.
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