China’s Currency Devaluation Will Hurt China More Than It Hurts US – The Federalist

China’s Currency Devaluation Will Hurt China More Than It Hurts US – The Federalist

President Donald Trump announced last week that the United States will impose 10 percent tariffs on $300 billion of Chinese imports beginning Sept. 1. At the beginning of this week, China retaliated by ordering state enterprises not to purchase U.S. agricultural goods and letting the Chinese yuan fall below the psychologically important rate of 7 yuan against $1. The …

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