The Trump administration is dropping its designation of China as a currency manipulator in advance of Wednesday’s signing of the phase one trade agreement.
Treasury Secretary Steve
Mnuchin says the trade deal includes a currency agreement stating that China
will not engage in competitive devaluations to boost its exports.
President Trump slapped the
currency manipulator label on China last August in order to boost the trade
pressure on China. The decision to drop that label is viewed by some analysts
as another step forward in de-escalating U.S.-China trade tensions.
