The United States stripped away its designation of China as a currency manipulator days before President Trump and senior Chinese officials are expected to sign an initial trade deal
On Monday, the Treasury Department -- in its twice-a-year report to Congress -- said it found no major trading partners"at this time" in violation of troubling foreign exchange practices that would trigger the label, including China.Instead, it placed China along with nine other trading partners like Germany, Italy, Japan, Korea and Vietnam on a monitoring list.
Craig Allen, president of the US-China Business Council, viewed the move by the Americans as a"confidence-building mechanism" even as further details remain to be seen."It's probably a good move to ratchet down tensions and explore positive developments of the relationship," said Allen.
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