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The depreciation of the renminbi in recent weeks has raised fears that China is aiming to counter US tariffs by weaponising its currency
Trump has introduced or threatened tariffs on $300 billion-worth of Chinese imports. In response, China has targeted US farmers with retaliatory tariffs.
The Modi-Trump meeting assumes significance in the wake of the strain that has popped up in the bilateral relationship on a host of trade and economic issues
Tata Steel, Vedanta and JSW Steel were down more than 5 per cent each on the NSE.
The tariffs of 10 per cent and 5 per cent take effect on two batches of goods on September 1 and December 15, the official Xinhua News Agency said
International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41%, from their previous settlement and trading near seven-month lows
The unanticipated trade tensions that cropped up between two major economies in the world-the US and China- have since spooked the global markets