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Trump's Trade War Sinks China's Yuan Most Since 2015 Devaluation

Ben Bartenstein, Giulia Morpurgo
Trump's Trade War Sinks China's Yuan Most Since 2015 Devaluation

Donald Trump’s tariff barrage pushed Chinese markets into their worst selloff since a shocking currency devaluation three years ago. The offshore yuan fell the most since August 2015, on a closing basis, as the White House said it’s ready to impose 10 percent tariffs on $200 billion of Chinese-made products. Beijing said it would be forced to retaliate, describing the move as “totally unacceptable.” Meanwhile, the iShares China Large-Cap exchange-traded fund extended a two-day slide to 2.5 percent.