The two largest economies in the world continue to take steps to leave behind the commercial tension who has dominated their relationships since Donald Trump He became president of the United States. His Administration is preparing to remove China from the list of countries accused of manipulate your currency, as official sources have confirmed to the American press. The decision of treasure arrives only two days before both countries sign in the White House the first phase of the agreement to solve their commercial differences, an entente that will serve to set new guidelines in the bilateral relationship and reduce tariffs that have disrupted the world economy in recent months.
The new agreement includes a chapter dedicated to preventing either of the two countries from resorting to the devaluation of your currency to get competitive advantages in the field of export, as confirmed last month by the US authorities. The document also includes safeguards for the intellectual property or mechanisms to avoid forced technology transfers of the Americans operating in China, demands that Washington has placed at the top of its priorities. The truce in the field of foreign exchange will serve to eliminate the stigma that has weighed so far on Beijing and pave the way for the rubric of the agreement that Trump and the Chinese vice president will seal on Wednesday, Liu he.
The United States last August included China in its blacklist of currency handlers, after Trump accused the communist regime of allowing the depreciation of its currency to cushion the impact of tariffs imposed on its exports. The measure was more symbolic than anything else, since the designation has no more practical effects than the opening of a period of consultation between the two countries and the International Monetary Fund (IMF) To solve the dispute. The IMF then showed its disapproval of the US decision after considering that the value of the yuan adjusted to market fluctuations.
An opinion shared by most economists. And, although China used to resort to devaluations to improve its position in international markets, in recent years it has not only introduced market-specific criteria to manage its currency, but has actively refloated the value of its currency , according to experts. Hence, Trump’s decision was largely political, another tactic to force China to comply with its demands in the negotiation of the trade agreement.