Global News Of Note: Vietnam Agrees To Address Currency Manipulation While China, EU Negotiate Steel Tariffs
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As China Daily reported, the Chinese government is currently engaged in negotiations with the European Union (EU) regarding the EU’s plan to implement new steel tariffs on July 1. Chinese ministry spokesperson He Yadong said his government hopes to achieve a mutually beneficial outcome through negotiations, while promoting the stable and healthy development of China-EU economic and trade relations.
- The government of Vietnam reiterated its commitment to avoid currency manipulation in a joint statement issued with the U.S. Department of the Treasury. Along with China, Japan, and other countries, Vietnam has been on the Treasury Department’s monitoring list of countries warranting close attention for currency practices. The State Bank of Vietnam said they would continue close engagement, and reiterated obligations under International Monetary Fund rules not to target exchange rates for competitive advantage. Read more at this link.