US Treasury drops China currency manipulator tag ahead of trade deal


The US Treasury Department on Monday dropped its designation of China as a currency manipulator days before top officials of the world's two largest economies were due to sign a preliminary trade agreement to ease an 18-month-old tariff war.

The widely expected decision came in a long-delayed semi-annual currency report, reversing an unexpected move by Treasury Secretary Steven Mnuchin last August at the height of US-China trade tensions. Mnuchin had accused China of deliberately holding down the value of its yuan currency.....

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