US Takes Back the Accusation on China as Currency Manipulator ahead of Signing Ceremony

US Takes Back the Accusation on China as a Currency Manipulator, Showing Positive Signal in Trade Deal.

On Monday, January 13, 2020, the first day of trade deal negotiation between the U.S. and China at Washington, the international news reported that the U.S. would formally take the accusation of China being a currency manipulator back.

 

The U.S. President Donald Trump in August 2019 accused China of manipulating its currency to gain unfair trade advantages over US business when Chinese yuan fell below 7 yuan per dollar for the first time since 2008.

The US Trade Representative’s Office stated that it will hold a meeting at least bi-annual between Washington and Beijing to implement the “Phase One” deal due to be signed Wednesday.