The United States is reportedly urging China to stabilize the value of the yuan as part of the ongoing trade talks.
The United States is reportedly asking China to address the value of the its currency as part of the trade deal.
The move would be aimed at mediating any effort by the Chinese to devalue the yuan to counter American tariffs, people familiar with the situation told Bloomberg News. The Trump administration has insisted that moves to devalue the yuan to buoy Chinese exports would be countered with additional or more severe American tariffs, sources told Bloomberg News.
Representatives for the two nations resumed overall trade discussions on Tuesday, with follow-up sessions at a higher level scheduled for later in the week, the White House said Monday. Though last week’s deliberations that ended in Beijing concluded without a deal, officials said progress was made on some contentious issues.
