US Treasury removes designation of China as currency manipulator

The United States Treasury Department on Monday said China should no longer be designated a currency manipulator in a long-delayed semi-annual currency report, reversing its August finding, which had roiled financial markets.
The widely expected decision came as a high-level Chinese delegation arrived in Washington before Wednesday’s signing of a Phase I trade agreement. The goal of the deal is to ease tensions between the world’s two largest economies after more than 18 months of tit-for-tat tariffs that have weighed on global growth.

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