WeChat QR Code

Home>News Center

Peter Navarro says US will take strong action against China if it devalues yuan to ‘neutralize tariffs’

2019-08-10 09:09:45       source:CNBC

August 10, 2019

White House trade advisor Peter Navarro said China plans to devalue its currency — and if it does, the U.S. will respond forcefully.

“Clearly, they are manipulating their currency from a trade point of view,” Navarro told CNBC’s “Closing Bell ” on Friday. “They’re going to, and we’re going to take strong action against them.”

Earlier this week, China allowed its currency to drop against the dollar to a key level unseen since 2008. The Trump administration later labeled Beijing a “currency manipulator. ” Navarro said China was taking actions to deal with the effects of tariffs.

Read more: