• The US keeps demanding actions on the yuan that China wants to take anyway - CNBC

Market news

22 February 2019

The US keeps demanding actions on the yuan that China wants to take anyway - CNBC

U.S. negotiators are reportedly demanding China not devalue the yuan as a condition for any potential trade deal. Such a measure is likely to encounter little resistance from the Chinese: It's actually in Beijing's interest to have a stronger currency, experts told CNBC.

The yuan's exchange rate against the dollar has been a repeated complaint from Donald Trump. In July of last year, the U.S. president told that the Chinese currency had been "dropping like a rock" and that it was putting America at a "disadvantage."

Since then, the yuan has strengthened about 1 percent against the greenback and Beijing has said the People's Bank of China is pursuing a stronger currency.

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