United States Plans to Remove China from Currency Manipulator List
Posted on 01/13/2020
The United States government plans to remove China from a list of countries considered currency manipulators. In August 2019, the U.S. Department of Treasury added China to the currency manipulator list. That was the first formal designation since U.S. President Bill Clinton’s administration did it as well. In 2019, the Chinese yuan depreciated beyond the 7 yuan to the U.S. dollar ratio.
U.S. President Donald Trump and China Vice Premier Liu He are scheduled to sign a preliminary trade agreement in Washington on Wednesday dubbed as “Phase-one”. President Trump campaigned on and during his administration been critical on the U.S.-China trade deficit, in addition to China’s past moves of devaluing the yuan. Lower-valued currencies typically can provide a boost for exports.