Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

China Accords Yielding Tangible Gains, Treasury’s Brainard Says

May 16 (Bloomberg) -- The Obama administration’s relationship with China is yielding “tangible, significant gains that will benefit the U.S.,” the Treasury Department’s top international official said.

Still, commitments made by China, including at talks between officials of the world’s two largest economies in Beijing this month, “are not enough,” Lael Brainard, the Treasury’s undersecretary for international affairs, said in testimony for a hearing today before a House Financial Services Committee panel.

Brainard said agreements at the May 3-4 Strategic and Economic Dialogue included a pledge by China to reduce tariffs on consumer goods imports by the end of the year.

China’s decision last month to widen the yuan’s trading band will help “promote rebalancing and financial reform” if it’s “implemented in a way that enables the exchange rate to reflect fully market forces,” Brainard said.

To contact the reporter on this story: Ian Katz in Washington at

To contact the editor responsible for this story: Chris Wellisz at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.