WASHINGTON — The domestic textile industry was up in arms Thursday over the Obama administration’s decision not to declare China a currency manipulator, ending hopes at least for the near future of any punitive action against the country’s exports.
Congressional leaders said they would not immediately be introducing any legislation against China’s currency policies, either. Critics argue that China undervalues its currency by as much as 40 percent, which lowers the cost of Chinese imports and puts goods from the U.S. at a competitive disadvantage. A nonmarket economy, China pegs the yuan against a basket of currencies, including the dollar.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)