The U.S. declined to label China a currency manipulator in a new Treasury report, but accuses Beijing of standing out among America’s major trading partners for lacking transparency
ByFATIMA HUSSEIN Associated Press
WASHINGTON — The U.S. declined to label China a currency manipulator in a new Treasury report released Thursday, but accuses Beijing of standing out among America’s major trading partners for lacking transparency in its exchange rate policies.
Treasury’s semi-annual report to Congress — called Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States— comes as the Trump administration seeks to strike a trade deal with China, averting a trade war that has been brewing between the two nations.
A Treasury official told reporters previewing the report that the U.S. could in the future find evidence that China is manipulating its currency and will make a determination in the fall whether China has been manipulating the renminbi, also known as RMB.
During President Donald Trump ‘s first term, the Treasury, which was then led by Secretary Steve Mnuchin, labeled China a curr