Economics
U.S. Labels China a Currency Manipulator, Escalating Trade War
- Treasury move follows Chinese retaliation for new U.S. tariffs
- Yuan slid past 7 Monday, Trump called out a ‘major violation’
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The Trump administration formally labeled China a currency manipulator, further escalating its trade war with Beijing after the country’s central bank allowed the yuan to fall in retaliation for new U.S. tariffs.