U.S. Drops China as Currency Manipulator Ahead of Trade Deal
- No major trading partner branded a manipulator, Treasury says
- Currency watchlist has 10 nations; Switzerland returns to list
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The Trump administration on Monday lifted its designation of China as a currency cheat, saying the nation has made “enforceable commitments” not to devalue the yuan and has agreed to publish exchange-rate information.
The change in the U.S. stance was outlined in the U.S. Treasury Department’s semiannual foreign-exchange report to Congress. The document was released two days before America and China are set to sign a phase-one trade agreement in the East Room of the White House at 11:30 a.m. in Washington, according to people familiar with the plans.