US Treasury Removes Currency Manipulator Label On China

US Treasury removes currency manipulator label on China

Washington, (UrduPoint / Pakistan Point News - 14th Jan, 2020 ) :The United States on Monday removed the Currency manipulator label it imposed on China last summer, in a sign of easing tensions between the two economic powers after nearly two years of conflict.

Just two days before President Donald Trump is set to sign a "phase one" trade agreement with China, the US Treasury said in its semi-annual report to Congress that the Yuan has strengthened and Beijing is no longer considered a currency manipulator.

Recently it strengthened to 6.93 to the Dollar. Treasury said the new trade pact addresses currency issues.

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