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CN Reportedly Promises Not to Devalue RMB to Gain Competitive Advantage, Plans to Treat TikTok as 'Commercial Matter'
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As part of its effort to prepare for trade talks with the US, China's initial proposals would focus on restoring a trade agreement signed but not implemented with the first Trump administration in early 2020, The Wall Street Journal quoted sources as saying. The Chinese government is now preparing to discuss with the Trump administration areas in which China could procure more goods from the US, including an offer to invest more in the US in areas such as batteries for EVs, as well as a renewed commitment not to devalue RMB to gain competitive advantage and a pledge to reduce exports of fentanyl precursors, the sources added. In an effort to create a positive tone, China also planned to treat TikTok as a “commercial matter,” meaning that the Chinese government plans to allow investors in TikTok's parent company, ByteDance, to negotiate with interested American bidders. AAStocks Financial News |
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