Here is what you need to know.
Manufacturers in every corner of America are worried about Trump’s tariffs. The Beige Book, released Wednesday, showed that manufacturers across the Federal Reserve’s 12 districts had seen President Donald Trump’s ongoing trade spat drive up costs and disrupt supply.
The Chinese yuan is at its weakest level in a year. The People’s Bank of China’s fixing signals the central bank “is not defending any line in the sand for the exchange rate and is comfortable with gradual yuan depreciation,” Tommy Xie, an economist at Oversea-Chinese Banking Corporation, told Bloomberg.See the rest of the story at Business Insider
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