China Currency Manipulation Could Be Just What Trump Needs
- Trump administration has sent mixed messages on the yuan
- Currency policy will be in spotlight at upcoming G-20 meeting
Mnuchin Says No Decision on China and Yuan Until April
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Top American economic officials, set to meet their Chinese counterparts next week at a Group of 20 gathering, may find one of their toughest challenges yet to hash out agreed language on foreign-exchange policy.
While President Donald Trump has repeatedly blasted Beijing for manipulating the yuan to make it cheaper, the People’s Bank of China has been intervening to cushion declines. That leaves American representatives at the G-20 finance chiefs’ gathering in Germany on March 17-18 needing to square past U.S. support for yuan liberalization with avoiding a continuous depreciation that would worsen the deficit with their top trade partner.