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China Takes On Trump by Weakening Yuan, Halting Crop Imports

  • Yuan plunges beyond 7 per dollar for first time since 2008
  • Beijing asked state-owned firms to suspend U.S. crop purchases
Bloomberg business news
China Said to Ask State Buyers to Halt U.S. Agriculture Imports
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China responded to President Donald Trump’s tariff threat with another escalation of the trade war on Monday, letting the yuan tumble to the weakest level in more than a decade and asking state-owned companies to suspend imports of U.S. agricultural products.