The U.S. Treasury Designates China a Currency Manipulator: What Comes Next?

Retailers and agriculture professionals are paying close attention to the ongoing developments in the China-U.S. trade war.

The United States Treasury on Monday declared China a currency manipulator, which the Asian nation steadfastly rejected.

The recent round of tariffs on $300 million on Chinese goods set to begin on Sept. 1 triggered China to devalue its currency in order to make its exports more attractive on the global marketplace.

The latest tariffs issued by President Donald Trump specifically target products found in retail products like footwear and children’s toys.

China also officially pulled out of buying U.S. agricultural products. The country is America’s fourth biggest importer of farm products as of 2018 behind Mexico, Canada and Japan.

The American farmland has already been damaged by serious floods and the ongoing trade war and it is unclear what solutions are on the way.

For the latest on the trade war between the U.S. and China, head to our industry pages! You can also follow us on Twitter at @MarketScale. Join the conversation on our Market Leaders LinkedIn groups today!

Follow us on social media for the latest updates in B2B!

Latest

Simply Shipped: How Technology Accelerates Logistics Engines
September 30, 2022
 Since the COVID-19 pandemic erupted, we have constantly been hearing about supply chain shortages and backups causing delays in product deliveries in multiple sectors. Sanil Mahajan, Global Head – Read more
Beyond the Concept: Managing the Risk of Using Out-of-Date Parts and Products in a Facility
September 30, 2022
 Facilities can ill afford to have equipment go down with today’s supply chain challenges. Lost hours could quickly become lost days if a replacement is unavailable. Sam Cafferata, Principal Engineer Read more
Highlights of the 2022 Battery Show
The Most POWERFUL Conference of the Year, The Battery Show 2022
September 30, 2022
Grant Harrell, host of Are We There Yet? had the pleasure of attending Informa Markets’ The Battery Show in Novi, Michigan from September 13-15, 2022. The show featured the latest trends and topics Read more