Daily news

InsingerGilissen, 06 AUG 2019

After a de-escalation phase in the wake of the Osaka summit last June, the trade conflict seems to be in a re-escalation phase once again. Donald Trump announced last week 10% tariffs on the remaining USD 300 billion of China imports not already subject to tariffs, effective 1 September. Beijing struck back: it let the yuan depreciate by around 2.5% above the key level of 7.0 vs the US dollar for the first time since 2008. In addition, state-owned Chinese enterprises were asked to suspend imports of US agricultural goods.