The trade war intensified Monday, as Beijing allowed its currency to weaken and the Treasury Department labeled China a currency manipulator.
Tag: US Dollar (Currency)
China’s Currency Weakens in a Potential Challenge to Trump
The renminbi fell past the key point of 7 to the U.S. dollar, in a signal that Beijing may be willing to use devaluation as a trade war weapon.
As Trade War Rages, China’s Sway Over the U.S. Fades
Beijing once could count on allies in business and politics to help get its way. Now many of its old allies are staying on the sidelines.