Tag: US Dollar (Currency)

China Signals It Will Continue to Weaken Its Currency as Trade War Rages

BEIJING — China signaled on Thursday that it might continue to weaken its currency, a move that threatens to again escalate the trade war with the United States. China’s central bank on Thursday set the midpoint of the renminbi’s daily trading range above 7 to the American dollar for the first time in more than […]

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A Weak Dollar Could Help the U.S. Getting One Isn’t So Easy.

The trade war between Washington and Beijing took an unexpected turn this week as China let its currency drop sharply and the United States responded by officially designating the country a currency manipulator. The confrontation underscored the Trump administration’s focus on weakness in foreign currencies — and the corresponding strength of the dollar — as […]

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What’s at Risk if the U.S. Stumbles Into a Currency War

When the United States declared China a currency manipulator on Monday, long-building trade tensions between the world’s two largest economies spread to the combustible realm of currencies — with potentially huge consequences for the global financial system should the escalation continue. Did China allow the value of the yuan to fall against the dollar simply […]

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President Trump’s Fruitless Trade War

President Trump told the American people that confronting China would be quick and painless and would result in clear gains for the American economy, a philosophy summarized most famously in his Twitter boast: “Trade wars are good, and easy to win.” Today, two years after the Trump administration imposed its first punitive measures on China, […]

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The U.S. Labeled China a Currency Manipulator. Here’s What It Means

The Trump administration labeled China a currency manipulator on Monday, after China allowed the value of its currency to fall. The designation — which the United States last used against China in 1994 — is more a symbolic move than a substantive one. But it dials up the pressure in a trade war that has […]

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Global Stocks Slide After China Lets Currency Dip, Raising Tensions With U.S.

Global stocks dropped sharply on Monday after China let its tightly controlled currency sink to an 11-year low against the dollar, stoking investors’ concerns that Beijing may be using the renminbi as a weapon in the escalating trade war between the world’s two largest economies. On Wall Street, shares tumbled more than 1.5 percent at […]

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China Hints at Weaponizing Its Currency, Rattling Markets

BEIJING — The trade war between the United States and China may be about to enter a more dangerous phase, one that could saddle the global financial system with new risks at an already turbulent time. That prospect, which would see Beijing using the value of its currency as a weapon to strike back at […]

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China’s Currency Weakens in a Potential Challenge to Trump

BEIJING — China’s currency weakened past the psychologically important point of 7 to the American dollar for the first time in more than a decade, a move that reflects the growing severity of the trade war with the United States and that could indicate Beijing’s growing desire to find ways to retaliate against President Trump. […]

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White House Considered Weakening U.S. Dollar Before Ruling It Out

WASHINGTON — President Trump and his economic advisers met this week to discuss intervening in currency markets to artificially weaken the dollar, but decided against the idea, Larry Kudlow, director of the National Economic Council, said on Friday. Mr. Trump has made no secret of his frustration that the United States dollar has strengthened against […]

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British Pound Tumbles, Reflecting Economic Concerns in U.K.

LONDON — The pound tumbled against the dollar on Tuesday, as investors grew worried about Britain’s economic prospects and the specter of a no-deal Brexit. The pound has been sliding during the last few weeks, but on Tuesday, it slipped about 0.5 percent, falling to $1.24, its lowest level in two years. The fall below […]

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In Firing Central Bank Chief, Turkey’s Leader Trades Credibility for Growth

LONDON — Turkey’s president, Recep Tayyip Erdogan, abruptly fired the central bank chief on Saturday, dealing a new blow to the institution’s credibility while threatening to intensify the nation’s wrenching economic crisis. The move, made in the early hours of the day by presidential decree, was the latest evidence of Mr. Erdogan’s unequivocal dedication to […]

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Treasury’s Inspector General to Review Harriet Tubman $20 Bill Delay

WASHINGTON — The Treasury Department’s internal watchdog has agreed to look into why designs of a new $20 bill featuring Harriet Tubman will not be unveiled next year. Senator Chuck Schumer of New York, the Democratic leader, last week asked the Treasury Department’s inspector general to open an investigation following Treasury Secretary Steven Mnuchin’s announcement […]

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Why Are Elizabeth Warren and Donald Trump Trying to Weaken the Dollar?

Elizabeth Warren’s “economic patriotism” differs in style and content from Donald Trump’s economic nationalism, but they have found common cause in vows to weaken the dollar. That is a strangely self-defeating agenda for patriots or nationalists of any political fashion. Mr. Trump and Ms. Warren argue that China and other emerging rivals weaken their currencies […]

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The Trade War is Taking Money From Your Wallet, and Returning Some, Too

Since the start of the Trump administration’s trade war last year, economists and executives have repeatedly warned that consumers will ultimately end up footing the bill for tariffs through higher prices. That’s true. It just might not feel like it. A recent economic study estimated that the 10 percent tariffs imposed last year on $200 […]

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A Radical Plan to Fix the Dollar

Elizabeth Warren released an “American jobs” plan recently. It includes several trade and manufacturing policies intended to benefit American workers and companies. Wall Street responded with righteous indignation, which suggests she may have hit a nerve. One element of her plan most likely explains Wall Street’s angry reaction: a call to tackle America’s overvalued dollar. […]

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See a Design of the Harriet Tubman $20 Bill That Mnuchin Delayed

WASHINGTON — Extensive work was well underway on a new $20 bill bearing the image of Harriet Tubman when Treasury Secretary Steven Mnuchin announced last month that the design of the note would be delayed for technical reasons by six years and might not include the former slave and abolitionist. Many Americans were deeply disappointed […]

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