China Hitches Yuan to the Dollar, Buying Rare Calm

China’s central bank is effectively anchoring the yuan to the dollar, a policy twist that has helped stabilize the currency in a year of political transition and market jitters about China’s economic management.   [Lingling Wei & Saumya Vaishampayan] May 25th, 2017 [The Wall Street Journal] The yuan weakened more than 6% against the dollar in…

Lighthizer to Perdue, lawmakers: Agriculture ‘will be front and center’ in every trade deal

U.S. Trade Representative Robert Lighthizer this week told Agriculture Secretary Sonny Perdue and members of the House Agriculture Committee the Trump administration will prioritize exports of U.S. agriculture products and that “do no harm has got to be our objective” for upcoming NAFTA talks with Mexico and Canada — a renegotiation process the panel’s chairman,…

Ryan bucks White House, setting up clash on taxes

Paul Ryan and the White House are barreling toward a tax reform show-down — a face-off that’s becoming all but inevitable as the speaker continues selling a tax plan rejected by Trump officials. [RACHAEL BADE and JOSH DAWSEY] May 22nd, 2017 [Politico] At issue is a controversial pillar of the House GOP tax plan that effectively hikes…

Lighthizer, at APEC, says defending U.S. market against unfair trade is not protectionism

HANOI — U.S. Trade Representative Robert Lighthizer, at his first public appearance here during the Asia-Pacific Economic Cooperation trade ministers meeting, said the U.S. defending its own market against unfair trade practices should not be confused with protectionism — the definition of which, he claims, “is sort of migrating.” [Jenny Leonard] May 21st, 2017 [Inside…