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Trade war

Asia stocks slide after US labels China a currency manipulator

Yuan falls further as central bank sets reference rate at 11-year low

Spot rates for the yuan slid to 7.0536 against the dollar on Tuesday, as more investors sold the Chinese currency.    © Reuters

BEIJING/NEW YORK/TOKYO -- The U.S. Treasury Department designated China a currency manipulator for the first time since 1994, after Beijing let the yuan depreciate Monday, marking an escalation of the trade war.

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