What is the U.S. government’s response to China’s new currency?
U.N. Security Council sanctions against China are set to expire on Friday, and the Trump administration is poised to issue a statement supporting a global effort to curb currency manipulation.
| Getty U.K. foreign minister to call on Trump to back sanctions against Chinese currency source The Wall Street Journal/NBC News via Getty Images Foreign Minister Boris Johnson said Thursday that Britain is calling on President Donald Trump to extend U.M. sanctions against the Chinese yuan to prevent it from falling further.
Johnson said that Trump’s decision to end U.F.O. sanctions, announced last month, will have a “tremendous” impact on the global economy and would help create a “new era of stability” in the world.
“It is important that we see the full impact of this new measure,” Johnson said.
“The impact is likely to be enormous, not just in China, but around the world.”
The U.H.S., U.E. and U.A.
E have imposed sanctions on China over its currency manipulation and financial controls.
also has imposed additional economic sanctions against Beijing and other countries, including on its air defense systems and other infrastructure.
The U.R.S.’s move to withdraw its sanctions comes as Trump is pushing the world to adopt a new, more flexible currency and has been meeting with Chinese leaders.
The president also said Wednesday that he would seek congressional approval to move the U-M.
sanctions into effect.