Currency Markets Expose a Crucial Flaw in Trump's China Tariffs

It’s an inconvenient truth for the U.S. in its escalating trade war with the world’s only other economic superpower, and one that could complicate the president’s efforts to use tariffs as way to pressure America’s major trading partners into making concessions.After Trump raised tariffs on $200 billion of Chinese imports last month, the yuan quickly fell toward 7 per dollar -- a level not seen since the financial crisis.The drop effectively reduced the price of Chinese i