Tag Archives: friction
Trump denies China trade war causing friction at G7
President Donald Trump on Sunday denied that his trade war with China is causing friction at the G7 summit, but indicated he will hold off from a threatened further escalation for now. “I think they respect the trade war. It has to happen,” Trump told reporters in Biarritz, France, where he was meeting with other leaders of the G7 group.
Volatility in China's yuan due to escalating U.S. trade friction – PBOC official
YICHUN, China/ SHANGHAI, Aug 11 (Reuters) – Volatility in China’s yuan since August is a normal market reaction to escalating trade frictions stoked by the United States and was caused, to some extent, by Washington’s decision to raise tariffs, a senior Chinese central bank official said. Zhu Jun, director-general of the People’s Bank of China’s international department, made the comments on Saturday to a forum held in the northern Chinese province of Heilongjiang. The U.S. Treasury Department on Monday labelled China a currency manipulator, hours after China let the yuan drop through a key support level to its lowest point in more than a decade.
Trump to sanction allies over Iran oil, causing new friction
The United States said Monday it would start imposing sanctions on friends such as India that buy Iranian oil, in its latest aggressive step to counter Tehran that could jeopardize US relationships. One targeted country, Turkey, vowed to defy the US demands that sent global crude prices spiraling higher, although President Donald Trump tweeted that his close ally Saudi Arabia would “more than make up” for cuts in Iranian oil. In seeking to reduce Iran’s oil exports to zero, the Trump administration is targeting the country’s top revenue maker in its latest no-holds-barred move to crush the economy and scale back the clerical regime’s influence.
Bobby Flay attempts to shut down rumors of Food Network friction after 'Iron Chef' drama leaks
