{"id":34233,"date":"2018-05-14T07:34:03","date_gmt":"2018-05-14T12:34:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34233"},"modified":"2018-05-14T07:34:03","modified_gmt":"2018-05-14T12:34:03","slug":"will-trump-launch-a-currency-war-too","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34233","title":{"rendered":"Will Trump Launch a Currency War, Too?"},"content":{"rendered":"
\n
\"A<\/picture>China Photos\/Getty Images<\/span><\/figure>\n<\/div>\n
\n
<\/div>\n

Will Trump Launch a Currency War, Too?<\/a><\/h3>\n
\n
Last month, Donald Trump personally announced a series of import tariffs and other measures to restrict the flow of Chinese goods and capital into the United States. Clearly, Trump views China as a significant economic threat, so it may be only a matter of time before he sets his sights on the renminbi as well.<\/p>\n

SANTA BARBARA \u2013 In recent weeks, the Trump administration has rolled out a series of trade and investment measures that put China squarely in its crosshairs. Clearly, Trump and his advisers view China as America\u2019s chief \u201ceconomic enemy<\/a>.\u201d The question now is whether they will follow up with an attack on the renminbi, China\u2019s increasingly popular currency.<\/p>\n

So far, the US has imposed sweeping import tariffs<\/a> of 25% on steel and 10% on aluminum, which Trump personally announced early last month. Since then, the administration has carved out exemptions for certain US allies, while using the tariffs as a bargaining chip to extract concessions from others.<\/p>\n

China, for its part, is not a major supplier of steel or aluminum to the United States. But Chinese overcapacity has been putting downward pressure on steel and aluminum prices globally, to the detriment of US producers. So, the Trump administration\u2019s aim is to force China to reduce its own output sharply.<\/p>\n

Even more dramatically, the Trump administration has unveiled plans to impose import tariffs on a wide range of Chinese goods, valued at up to $60 billion. It is also tightening restrictions on corporate acquisitions and investments by foreign firms; and it has signaled its intention to challenge<\/a> China\u2019s forced technology transfers at the World Trade Organization.<\/p>\n

Moreover, the administration is moving to bar Chinese companies from investing in sensitive US sectors such as semiconductors and 5G wireless-communications technologies. Trump has already blocked<\/a> a $117 billion bid by Broadcom \u2013 a Singapore-based firm with close ties to China \u2013 to acquire the US tech giant Qualcomm.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/section>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

China Photos\/Getty Images Will Trump Launch a Currency War, Too? Last month, Donald Trump personally announced a series of import tariffs and other measures to restrict the flow of Chinese goods and capital into the United States. Clearly, Trump views China as a significant economic threat, so it may be only a matter of time […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[20110,130,188,7844,8402,827,839],"class_list":["post-34233","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-benjamin-j-cohen","tag-china","tag-currency-war","tag-donald-trump","tag-project-syndicate","tag-united-states","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34233"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34233\/revisions"}],"predecessor-version":[{"id":34234,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34233\/revisions\/34234"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}