CHINA US drops currency manipulation charge against China


US drops currency manipulation charge against China

By Wu Lejun | People's Daily app

06:23, January 14, 2020


(Photo: Xinhua)

Washington (People's Daily) - The US Department of the Treasury delivered to Congress its semi-annual Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US. 

According to US Treasury Secretary Steven Mnuchin, the Treasury helped secure a significant Phase One agreement with China and is expected to foster greater economic growth and opportunity for US workers and businesses.

“China has made enforceable commitments to refrain from competitive devaluation while promoting transparency and accountability,” Mnuchin later added.  

The Treasury found that ten countries warrant placement on the “Monitoring List” of major trading partners that merit close attention due to their currency practices such as China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, Switzerland, and Vietnam.

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