translated from Spanish: China devalued its currency as tension grows with US

The Uanán, China’s national currency, fell on Monday to its lowest level in the last eleven years and is arising from the Asian giant’s trade war with the United States.In Monday’s Asian market, the uanland traded at $7.14, 0.69% lower than Friday’s close causes the cheaper chinese exports to offset the tariffs imposed by Donald Trump. 

For months now, the United States and China have imposed tariffs to improve their position on the global market. This week, the American president urged companies to withdraw from China and stop making their products there. It was the response to the Asian giant’s decision to increase its tariffs on U.S. products, which account for $75 billion in annual imports.

For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been loss HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight…. — Donald J. Trump (@realDonaldTrump)
August 23, 2019

Minutes after the Argentine exchange market opens, at ten o’clock in the morning, this new scoo in the trade war is expected to affect the peso’s price, always exposed and fragile to external factors.

Original source in Spanish