WORLD_ U.S. Designates China as Currency Manipulator

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U.S. Designates China as Currency Manipulator

Stocks tumble as the two nations swap blows over trade


By William Mauldin, Nick Timiraos and Paul Kiernan Updated Aug. 5, 2019 7:34 pm ET


WASHINGTON—The U.S. Treasury labeled China a currency manipulator after the Chinese central bank let the yuan depreciate, capping a day of trade-war escalations that sparked a global fall in financial markets and fears the clash could stall the U.S.’s economic expansion.

The uncertainty could pressure the Federal Reserve to consider more interest-rate cuts, following its decision last week to lower rates for the first time in more than a decade.

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READ MORE: https://www.wsj.com/articles/chinas-currency-weakening-escalates-trade-war-11565027431


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