China’s ‘currency move’ and US tariffs are an ‘unwanted escalation’: Frydenberg

Treasurer Josh Frydenberg says China's "currency move" and the US increase of tariffs are an "unwanted escalation" of the ongoing trade war. US President Donald Trump accused China of being a "currency manipulator" on Monday after Beijing allowed the value of its currency to fall. Mr Frydenberg said the move was an "unwanted escalation", adding world leaders previously agreed they would not use their currency for a competitive advantage. Mr Frydenberg said the tax cuts the government passed and the $100 billion infrastructure commitment over the next decade would keep the Australian economy growing amid the US-China trade war. Image: AP

from National | Daily Telegraph https://ift.tt/2MCLz50