US drops designation of China as currency manipulator

Posted at 10:42 PM, Jan 13, 2020
and last updated 2020-01-13 22:42:50-05

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.