Abridge Newsjust landed in the App Store.
The Quick Facts
- This week China let its currency, the yuan, drop in value to an 11-year low. China also announced it would be halting purchases of U.S. farm products.
- The move comes four days after Trump threatened another tariff hike on Beijing.
- In response, the U.S. Treasury took the rare step to officially designate China as a currency manipulator, a designation that will trigger assorted trade penalties on China.