Trump Administration Prepares First Blow in ‘Trade Skirmishes’ With Beijing

Wednesday, February 15, 2017
By Paul Martin

SputnikNews.com
15.02.2017

The Trump administration’s proposal to tackle what it perceives to be China’s currency manipulation signals the beginning of a series of trade disputes between Washington and Beijing, Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics, told Radio Sputnik.

The White House is developing a plan to discourage China from undervaluing the yuan, the Wall Street Journal reported on Monday.

According to the plan, US Secretary of Commerce Wilbur Ross would designate the practice of currency manipulation as an unfair subsidy when employed by any country. In this way, the US aims to avoid a direct confrontation with China.

The plan is a somewhat softer implementation of Donald Trump’s pre-election rhetoric, in which he attacked China for perceived currency manipulation.

Trump repeatedly accused China of “killing” the US on trade by manipulating its currency to make its exports more competitive in the global market.

“We can’t continue to allow China to rape our country, and that’s what they’re doing,” Trump told a campaign rally in Indiana in May 2016.

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