Treasury Says China Isn’t Currency Manipulator

The Treasury Department on Friday again refused to label China a currency manipulator, citing positive discussions with Chinese officials and a decline in the country’s current account surplus.

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    The currency remains on the Treasury’s “watch list,” and the U.S.’ trade deficit with China remains a big issue for Trump, who brought it up as recently as Monday. The $233 billion trade gap saw China meet one of the three criteria for manipulation ...
    11/7/2017 - 3:00 am | View Link
  • Why China’s currency manipulation isn’t a problem
    When the peg was undervalued, the PBOC bought foreign currency to keep the yuan undervalued. This is how China accumulated its large foreign holdings of mainly American treasury and other government bonds. Figure 2: Foreign Reserves of China (in USD ...
    07/9/2017 - 7:12 pm | View Link
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    In its exchange rate report to Congress, the Treasury said that in spite of China’s large trade surplus with the United States, it was not acting improperly to depress the value of its currency. Mr. Trump signaled this week in an interview that he was ...
    04/15/2017 - 6:29 am | View Link
  • In a Startling Moment of Clarity, Trump Changes His Mind, Decides China Isn’t a Currency Manipulator After All
    In a remarkable interview with the Wall Street Journal published Wednesday, Donald Trump said that his administration would not label China a currency manipulator ... Economic Council Director Gary Cohn and Treasury Secretary Steve Mnuchin, over Steve ...
    04/12/2017 - 7:21 am | View Link
  • Trump Isn’t Wrong on China Currency Manipulation, Just Late
    Though the requirement that the Treasury identify currency manipulators “gaining unfair competitive advantage in international trade” dates back to the Omnibus Trade and Competitiveness Act of 1988, China was never called out. There were good reasons.
    04/11/2017 - 1:00 pm | View Link
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