News analysis

US labels China a currency manipulator: Trade war resolution more distant as both sides dig in

China responded by stopping all imports of American agricultural products, and devaluing its currency - or, arguably, allowing its currency to devalue.PHOTO: AP

WASHINGTON - The US Treasury's move to label China a currency manipulator is in itself less significant than the fact that it is the latest in a flurry of tit-for-tat moves that has deepened the United States-China trade war.

It began last Thursday when US President Donald Trump threatened additional tariffs of 10 per cent on US$300 billion (S$414 billion) worth of Chinese goods, which means essentially all imports from China will be taxed from Sept 1.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.