US presses China to let yuan strengthen, avoids ‘currency manipulator’ label

AI Summary
In a semi-annual report, the US Treasury urged China to allow the yuan to appreciate, citing its undervaluation and a "relative lack of transparency" in China's exchange-rate policies. The report, released on Thursday, stopped short of labeling China a currency manipulator, a designation last used in 2019. The US Treasury expressed concern that China might be intervening to resist yuan appreciation, warning that future intervention could lead to the designation. Despite past depreciation during the Trump administration, the yuan has generally strengthened recently, even amidst new trade tensions. The US continues to monitor China's currency practices closely.
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