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US drops designation of China as currency manipulator

Photo: AP
Photo: AP(WDBJ)
Published: Jan. 13, 2020 at 5:47 PM EST
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The Trump administration is dropping its designation of China as a currency manipulator in advance of the signing Wednesday of a Phase 1 U.S.-China trade agreement.

The preliminary pact that the two sides are set to sign includes a section that's intended to prevent China from manipulating its currency to gain trade advantages.

The action announced Monday comes five months after the Trump administration had branded China a currency manipulator — the first time that any country had been so named since 1994 during the Clinton administration.

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