The Trump administration designated China a 'currency manipulator,' after the country's central bank allowed its currency to weaken amid the ongoing trade dispute
Washington D.C. The Trump administration on Monday designated China a"currency manipulator," after the country's central bank allowed its currency to weaken amid the ongoing trade dispute.
The move comes hours after Trump accused Beijing of depreciating its currency on Twitter, adding later that such measures have been used to"steal our business and factories, hurt our jobs, depress our workers' wages and harm our farmers' prices. Not anymore!"The People's Bank of China allowed its currency to fall below 7 yuan to the American dollar, which is considered to be a psychologically important marker, for the first time in a decade.
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