Washington Update

October 16th, 2014
Stephanie Henry

October 16, 2014 - The US Treasury Department on Wednesday said China’s currency remains “significantly undervalued,” but did not label it a currency manipulator in its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies. Instead, Treasury observed “some renewed willingness” by Chinese regulators to allow RMB appreciation and reduce intervention, following China’s commitment to do so at the July 2014 Strategic & Economic Dialogue. Treasury has not labelled...

April 18th, 2014
Stephanie Henry

Continuing a 20 year-long trend, the US Treasury Department this week did not name China a currency manipulator, though said China’s currency remains “significantly undervalued.” In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, the Treasury Department said China’s currency had appreciated 2.9 percent against the dollar over the course of 2013, but did not appreciate “as fast or by as much as is needed.” The report also raised concern over recent...

April 3rd, 2014
Stephanie Henry

Members of the House Ways and Means Committee today asked US Trade Representative Michael Froman about the potential impact of the Shanghai Free Trade Zone (FTZ) on US-China trade negotiations, and raised concerns over China’s agricultural restrictions, currency, and participation in international trade negotiations during a hearing on the Obama Administration’s 2014 Trade Agenda.   

On the Shanghai FTZ, Froman noted USTR is monitoring the openings there closely, and remarked that the...