China’s currency weakened by 0.15 percent against the dollar on Tuesday. It was a decline that — on its own — seems unremarkable.

But as the trade war between Washington and Beijing drags on, the value of the renminbi is increasingly at the heart of the global fight over trade, technology and economic dominance between the world’s two largest economies.



Lately, even the minuscule moves are starting to add up.

Tuesday’s dip pushed the currency to its weakest level against the dollar since early 2008, according to data from FactSet. Since the Trump administration began to talk of imposing tariffs on Chinese exports in early 2018, the currency is down roughly 10 percent. The drop has picked up speed in August, with the renminbi down about 4 percent.