Trump administration declines to brand China currency manipulator
The Trump administration has again decided not to brand China a currency manipulator. But the U.S. is targeting China and five others for special monitoring for what the administration says are practices that are worsening America's trade deficit.
The U.S. Treasury Building. [Photo: Imagine China]
In a report issued every six months, the administration says that no country meets the criteria to be labeled a currency manipulator. But the report says that six nations — China, Germany, India, Japan, South Korea and Switzerland — will remain on a watch list subjecting them to added U.S. pressure to lower trade surpluses.
The Treasury Department report says the administration will closely monitor the recent depreciation of Beijing's currency, which it said would likely worsen America's trade deficit with China.