US Treasury Secretary Steven Mnuchin at the White House. The Treasury Department’s labelling of China as a currency manipulator for the first time since 1994 marked a significant escalation in the trade war and roiled global markets. Photo: Xinhua

China hits back at ‘currency manipulator’ label as Donald Trump ratchets up US trade war

  • The People’s Bank of China called the United States’ move to label China a currency manipulator ‘wilful unilateral and protectionist behaviour’
  • Markets slid on the potential further escalation in US-China tensions, with analysts predicting more tariffs to come
Topic |   Currency war

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US Treasury Secretary Steven Mnuchin at the White House. The Treasury Department’s labelling of China as a currency manipulator for the first time since 1994 marked a significant escalation in the trade war and roiled global markets. Photo: Xinhua
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Frank Tang

Frank Tang

Frank Tang joined the SCMP in 2016 after a decade of China economy coverage and government policy analysis.

Finbarr Bermingham

Finbarr Bermingham

Finbarr Bermingham has been reporting on Asian trade since 2014. Prior to this, he covered global trade and economics in London. He joined the Post in 2018, before which he was Asia Editor at Global Trade Review and Trade Correspondent for the International Business Times.

Xie Yu

Xie Yu

Xie Yu joined the Post in 2015. She is the chief China finance reporter, covering the economy and development of financial markets.