US drops designation of China as currency manipulator

0
48
MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — The Trump administration is dropping its designation of China as a currency manipulator in advance of the signing Wednesday of a Phase 1 U.S.-China trade agreement. The preliminary pact that the two sides are set to sign this week includes a section that's intended to prevent China from manipulating its currency to gain trade advantages. The action announced Monday comes five months after the Trump administration had branded China a currency manipulator — the first time that any country had been so named since 1994 during the Clinton administration. Even while removing China from its currency black list, the Treasury Department does name China as one of 10 countries it says require placement on a watch list that will mean th
Subscribe or log in to read the rest of this content.