U.S.-China trade friction “Foreign currency manipulation country” accredited to intensify conflict Impact on Japan also at 6:17 on August 7
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The trade dispute between the United States and China has entered a new phase, as the US has recognized China as a “exchange control country” and the conflict is expected to become even more intense. As a result, global stock prices continued to decline in the overseas market on the 6th, but there are concerns about the impact on the Japanese economy as we cannot see the clues to overcome the situation.
The long-running US-China trade friction has moved greatly in the direction of deterioration this month. President Trump said on the 1st that he would pay high tariffs on almost all imported goods from China on the 1st, saying that China did not keep the promise of importing American agricultural products.
On the fifth day of the week, the Chinese currency and renminbi will drop, and the yuan will depreciate and the dollar will rise for the first time in 11 years.
As the currency will work favorably for exports, the Chinese authorities will perceive that the depreciation of the renminbi is acceptable. President Trump immediately responded and deliberately induced his own currency. As a result, China has been certified as a “exchange control country” for the first time in 25 years.
The People's Bank of China, which is the central bank, has criticized the United States after denying the introduction of a currency depreciation, and "is having a singularistic effect on the global economy." Is a form that has expanded to the problem of exchange.
The future focus will be ministerial trade negotiations that will resume in Washington next month.
White House chairman Kudrow State Economic Council chairman told reporters on the 6th that "the Chinese government may take some action before September 1st when it activates additional tariffs on China." However, the clues to break the situation are not visible.
In addition, as the trade conflict has spread to the foreign exchange, the financial market has become more upset. If the conflict between the United States and China becomes even more intense, the yen is expected to rise in addition to the weak stock, The impact is also a concern.