The U.S. labeled China a "currency manipulator" after the Chinese yuan fell beyond seven per U.S. dollar. The central parity rate for yuan pulled up and steadied to 6.968 against the U.S. dollar on Tuesday, after falling to its weakest in more than a decade, on the China Foreign Exchange Trade System. China's central bank said the drop reflects upon a weakened market as a result of the U.S. tariffs. The Monday fall was historic, as is the U.S. Treasury naming China a "currency manipulator," for the first time since 1994. Professor Liu Chunsheng from the Central University of Finance and Economics explains why China is not a "currency manipulator."