WASHINGTON: The US government on Friday said it would delay a report on China's currency policy until after a series of meetings between the two countries.
In what has become standard operating procedure, the US Treasury said it was delaying the semi-annual report to Congress on whether China artificially keeps its currency cheap until after meetings of the G-20, the International Monetary Fund and a bilateral strategic dialogue.
The G-20 meeting takes place on April 19-20 and will be immediately followed by the IMF meeting. The dates of the dialogue have not yet been announced.
The report has the potential to declare China a currency manipulator, paving the way for retaliatory sanctions.
But in a delayed December report the Treasury shied away from such a step, which would stoke tensions considerably.
The United States accuses China of keeping the yuan weak in order to make exports cheaper, thus gaining an unfair trade advantage.
Although Washington has harangued China over its forex policies, President Barack Obama's administration has preferred to avoid a full-out trade war over the issue.
China has said it will take steps to slowly rebalance its economy, including allowing the currency to move more according to the markets.
In the last year the yuan has risen 3.6 percent against the dollar -- not enough, say critics. In the last five years it has risen nearly 23 percent.
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