US-China Trade Relations: Transparency and Talks amid Tensions
The US Treasury report refrains from labeling China a currency manipulator but criticizes China's lack of transparency in exchange rate policies. The report comes as trade talks are underway between the US and China. Despite tariff reductions on both sides, market volatility continues to be a concern.
- Country:
- United States
The US has chosen not to designate China as a currency manipulator in its latest Treasury report, though it criticized Beijing for its opaque exchange rate practices. This report, released on Thursday, comes at a pivotal time as trade negotiations between the US and China aim to prevent an escalating trade war.
The Treasury Secretary emphasized that the US will no longer tolerate economic policies that create trading imbalances. He assured that the Treasury will actively employ measures against any unfair currency practices from trade partners.
Amid a backdrop of eased tensions, with tariff reductions on both sides, President Trump announced a 'very positive' phone call with China's Xi Jinping. This development is fostering hope for resolving stalemates over tariffs and rare earths, though market volatility remains a persistent issue.
(With inputs from agencies.)
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