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Chinese Foreign Ministry spokesman Keng Shuang also added that threats and intimidation in China's business relations are not.
The value of the Chinese currency is determined by the market, and Beijing does not intend to devalue the yuan to boost exports.
At a press conference Monday, Chinese Foreign Ministry spokesman Keng Shuang responded to statements by US Secretary of State Steven Munchin, who told Reuters that United States treatment by the Ministry of currency manipulation. It should be known on October 15th.
Keng Shuang said that the exchange rate of the Chinese currency is based on demand and supply on the Chinese currency, according to a report from the Trump administration, saying that it could to mark China as a currency manipulator. market and China does not plan to devalue its currency to support exports. "China does not intend to use export support as the devaluation of the currency," said Keng Shuang. Since the end of the first quarter, however, the Chinese currency has fallen 7% against the dollar.
At the same time, Keng Shuang added that threats and intimidation in business relations in China are not. The team responded to US President Donald Trump's comments last week that he could impose import duties on all Chinese goods imported to the United States. That would mean a value of about 500 billion dollars (428.45 billion euros).
Trump in a CNBC television interview said that the United States "is in huge deficit" in trade with China and that it is ready to 500 ". He pointed to the value of Chinese goods imported to the United States last year. It was $ 505.5 billion
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