US Treasury officially labels China a currency manipulator
Financial Times | Tue, Aug 6, 2019
by Demetri Sevastopulo in Washington and Colby Smith in New York
The Trump administration has officially labelled China a “currency manipulator” after the Chinese central bank allowed the renminbi to fall below a key threshold, marking a dramatic escalation in the trade war between the two economic powers.
The US Treasury announced its decision after financial markets closed on Monday. It came just hours after President Donald Trump again accused China of weakening its currency to create an unfair trade advantage.