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Yesterday (5th), as the value of the Chinese yuan plummeted, the exchange rate soared, and President Trump urged China to manipulate the exchange rate. Due to the trade disputes between the two countries, the Asian stock market and the US stock market have plummeted.

It is Son Suk Min correspondent in Washington.

<Reporter>

Trump said that the Chinese yuan's exchange rate has surpassed 7 yuan per dollar, which is the psychological barrier of the market.

It is said that China has dropped the exchange rate to almost the lowest level in history.

China has always said that it has not manipulated the exchange rate in order to harm the US economy.

When the United States imposes tariffs on imports from China, the Chinese government is gaining enough dollars to encourage or condone the decline in the value of the yuan and offset the tariffs.

President Trump said last week that he would pay 10 percent more tariffs and made it clear he would not retire from trade negotiations with China.

[Trump / US President (last 3 days): We can not make a consensus with China. You need to negotiate better. China now has an unfair stadium.]

The Commerce Department also responded to its promise to stop purchasing US agricultural products.

The tough atmosphere between the two countries struck financial markets.

The major indexes of the New York Stock Exchange, including the Dow Jones decline since the beginning of the week, plummeted to around 3 percent, while gold, the safest asset, surged.