US Criticizes China, Declines Manipulator Label

The US Treasury, in its latest semi-annual report, declined to label China a currency manipulator but criticized Beijing for lacking transparency in its exchange rate practices. The report coincides with a push from the Trump administration to ease trade tensions, as both the US and China have agreed to resume talks and temporarily lower some tariffs. Treasury Secretary Scott Bessent stated that the US will not tolerate policies leading to unbalanced trade and warned of possible countermeasures against unfair currency actions. Treasury officials said there is currently no evidence to warrant the manipulator designation but will reassess in the fall. This is the first such report since President Trump returned to office, signaling a cautious yet assertive stance on US-China economic relations. The Treasury also plans to enhance its monitoring of foreign exchange practices.