US Treasury fails to brand China a currency manipulator
In its first report on FX policies since Donald Trump took office, US Treasury issues China with a warning only, despite the president's campaign promise
The US Department of the Treasury has warned China it is determined to watch it closely for any unfair currency practices that create a burden for US workers and companies, but it fell short of labelling the country a currency manipulator, despite President Donald Trump’s promise to do so.
In its biannual report on foreign exchange policies of the major trading partners of the US, the Treasury acknowledged China has sought to prevent a rapid depreciation of the renminbi over the past few years
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