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China declared 'currency manipulator' by U.S. Treasury Department

Aug 06, 2019 - The Washington Times

The U.S. government officially designated China a currency manipulator Monday, treading where the past two administrations resisted, as President Trump's trade feud with Beijing escalated.

Treasury Secretary Steven T. Mnuchin announced the step Monday evening after the markets closed during a day of economic chaos and rhetorical jabs.

The day began with Chinese officials letting the yuan drop to an 11-year low versus the dollar, at more than 7-to-1. Stocks tumbled globally, and the ...