China Pushes Against U.S. Trade Demands on Enforcement, Yuan

Trade, monetary officials spoke at weekend press conferences
PBOC’s Yi says two sides discussed G-20 currency commitments

China continues to push back at some U.S. demands in trade talks. Tom Mackenzie and Derek Wallbank report. (Source: Bloomberg)

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By Jeff Black, Yinan Zhao, and Miao Han

March 10, 2019 at 9:00 AM UTC

Updated on

March 11, 2019 at 1:28 AM UTC

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China’s top trade and monetary policy officials this weekend delivered a subtle push-back against trade demands made by Washington, delivering Beijing’s own interpretation of progress made in talks over the enforcement of any deal and the role of currencies.

People’s Bank of China Governor Yi Gang said the two sides have reached consensus on many crucial issues, and have discussed previous commitments made by Group of 20 nations on avoiding competitive devaluation of currencies. They also talked about respecting the “autonomy” of each other’s monetary policy, he said.