Romney’s Pledge on China Currency Won’t Be Met in a Day

Republican presidential nominee Mitt Romney has pledged to declare China a currency manipulator on his first day in office. It may not be that easy, or have the desired effect.

U.S. law requires the Treasury Department to consider whether other nations are controlling exchange rates to gain an unfair trade advantage and issue a report on the subject twice a year. A Romney administration may not have the personnel in place to take such action on Inauguration Day, Jan. 21.