The Trump administration may view the drop in the Chinese yuan exchange rate – now at a 14-month low against the US dollar – as intentional devaluation and could be the motivation behind Trump’s proposal to raise tariffs on the Chinese imports to 25 percent from the previously proposed levy of 10 percent, economists at Goldman Sachs believe, according to CNBC report. Key quotes (Source: CNBC) “While it is unclear whether the Administration will move forward with a 25 percent tariff, we believe the announcement that it is under consideration further raises the probability that tariffs of at least 10 percent will be imposed on a substantial portion of the $200bn in imports recently detailed.” “We expect that the decision to increase the rate to 25 percent will depend in part on whether recent CNY [yuan]depreciation reverses or continues.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Yuan returns to the red in Asia, UK services PMI, US payrolls in focus FX Street 5 years The Trump administration may view the drop in the Chinese yuan exchange rate - now at a 14-month low against the US dollar - as intentional devaluation and could be the motivation behind Trump's proposal to raise tariffs on the Chinese imports to 25 percent from the previously proposed levy of 10 percent, economists at Goldman Sachs believe, according to CNBC report. Key quotes (Source: CNBC) "While it is unclear whether the Administration will move forward with a 25 percent tariff, we believe the announcement that it is under consideration further raises the probability that tariffs of at least… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
