KONTAN.CO.ID - TOKYO. The safe-haven yen edged higher and the Chinese yuan and Australian dollar dipped early on Monday after the latest escalation in the trade war between the United States and China. The world's two biggest economies appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit" that harmed its interests. The trade conflict had escalated on Friday, with the United States hiking tariffs on $200 billion worth of Chinese goods. China has vowed to retaliate but has not given details.
Yen gains but yuan, Aussie dip as U.S.-China trade war escalates
KONTAN.CO.ID - TOKYO. The safe-haven yen edged higher and the Chinese yuan and Australian dollar dipped early on Monday after the latest escalation in the trade war between the United States and China. The world's two biggest economies appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any "bitter fruit" that harmed its interests. The trade conflict had escalated on Friday, with the United States hiking tariffs on $200 billion worth of Chinese goods. China has vowed to retaliate but has not given details.