China's Treasury Holdings Extend Drop Amid Trade-War Escalation

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China’s holdings of U.S. Treasuries dipped in May to the lowest in two years amid an escalation of the trade war between the world’s two largest economies.

The Asian nation’s pile of notes, bills and bonds fell by $2.8 billion to $1.11 trillion, according to Treasury Department data released Tuesday in Washington. It was the third straight month of declines and left the nation’s holdings the smallest since May 2017.