US Treasury Department on Tuesday said in its latest semi-annual currency report that China did not manipulate its currency.
US Treasury Department on Tuesday said in its latest semi-annual currency report that China did not manipulate its currency.
Declaring China a currency manipulator would be highly disruptive, a senior advisor to US President Barack Obama's re-election campaign said.
But US will "press for policy changes that yield greater exchange rate flexibility" in the yuan.
Washington's decision not to name China as a currency manipulator is expected to reduce Sino-US trade frictions triggered by the exchange-rate issue.
In its latest report, the US Treasury Department on Tuesday declined to name China as a currency manipulator, sending out a clear and positive signal that would soothe the market and benefit bilateral and world trade.
The US Treasury Department on Tuesday declined to name China as a currency manipulator, saying that it would closely monitor the pace of RMB appreciation.
The bill is essentially trade protectionism, a serious violation of World Trade Organization rules,said FM.
The US-China Business Council, a leading bilateral business organization, said that the currency bill passed by the US Senate will do more harm than good.
The US Senate passed a controversial currency bill which threatens to punish China for so-called "currency manipulation" with retaliatory tariffs.
Warning: Yuan bill to spark trade war
US House Speaker John Boehner said the Senate vote to allow debate on a controversial bill on so-called "currency manipulation" by China is "pretty dangerous".
The United States Treasury Department said on Friday in a report that China was not manipulating its currency.
The United States Treasury Department said on Friday in a report that China was not manipulating its currency.
The real problem is that the US doesn't save, says Morgan Stanley Asia's Non-Executive Chairman Stephen Roach, who supported the US Treasury Department's decision not to label China a "currency manipulator".
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