Economics
U.S. Treasury Staff Finds China Isn’t Manipulating Yuan, Sources Say
- Twice-yearly U.S. currency report expected next week
- Staff finding would avert escalation of U.S.-China trade war
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The U.S. Treasury Department’s staff has advised Secretary Steven Mnuchin that China isn’t manipulating the yuan as the Trump administration prepares to issue a closely watched report on foreign currencies, according to two people familiar with the matter.
The conclusion, if accepted by Mnuchin, would avert an escalation of the U.S.-China trade war and remove a source of anxiety for emerging markets. Mnuchin could issue a different finding.