‘No Valid Reason’ for US Treasury to Call China a Currency Manipulator, Says Foreign Ministry
The U.S. Treasury Department had “no valid reason” to designate China a currency manipulator, said a Chinese Foreign Affairs Ministry spokesperson Tuesday. Treasury’s decision Monday was in “total disregard of facts and based on its own measuring standards,” she said.…
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“This is another bad practice to escalate trade disputes after the U.S. announced new tariffs on $300 billion worth of Chinese goods,” she said. Treasury’s action “will not help resolving China-U.S. trade issues in a reasonable and pragmatic matter,” said the spokesperson. Treasury and the Office of the U.S. Trade Representative didn’t comment.