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Trump’s Most Powerful Weapon in the U.S.-China Trade Fight

China’s banks would be defenseless if the U.S. weaponized the dollar


By Mike Bird
Updated June 27, 2019 6:41 am ET


A U.S. judge found three unnamed Chinese banks to be in contempt of court in April, according to recently unsealed documents from the District Court for the District of Columbia. This could add a dangerous new element to the trade tensions between Washington and Beijing.

The ruling, relating to the banks’ failure to comply with subpoenas issued a year-and-a-half ago, mandates a fine of $50,000 a day for each bank. But this penalty may not be the lenders’ biggest problem. The case also opens up the possibility of sanctions...

READ MORE: https://www.wsj.com/articles/trumps-most-powerful-weapon-in-the-u-s-china-trade-fight-11561631923


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