US-China Talks Hit A Snag: How To Enforce Any Deal | WHAT REALLY HAPPENED


US-China Talks Hit A Snag: How To Enforce Any Deal

One of the reasons behind the market's euphoric burst last Friday and spike in the Chinese Yuan on renewed "trade optimism" is that among the numerous soundbites and flashing red headlines, was that the US and China had reached a currency deal that would prevent Beijing from depreciating the yuan, even though no details were released.

“We have a deal on currency manipulation,” Trump told reporters during an Oval Office meeting with Chinese Vice Premier Liu He, the head of a large Chinese delegation that’s in Washington for talks aimed at defusing the U.S.-China trade war.

There is just one problem: like most other "deals" reached between the US and China in the ongoing trade war, this one too may not have been worth the paper it has yet to be printed on, because as Bloomberg reports, the two sides haven’t yet agreed on the critical issue of enforcement in a proposed currency deal that would ensure Beijing lives up to its promise to not depreciate the yuan, four people familiar with the matter said.

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