President Donald Trump may finally get to deliver on his campaign promise to address China’s management of its currency for what he has insisted is its trade advantage. But it would mean an about-face on almost a decade of global economic policy.
The U.S. is said to have asked China to keep its currency stable as part of a new trade deal, a move aimed at discouraging officials in Beijing from devaluing the yuan to offset the impact of American tariffs. That request is at odds with years of global pressure on China, from the Group of 20 economies in particular, to move toward a free-floating currency.
