Capitol Report: China, now for duration of Obama presidency, escapes being named currency manipulator

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U.S. President Barack Obama speaks to media after the G20 closing at JW Marriott Hotel in 2016, in Hangzhou, China.

China has managed to escape getting called a currency manipulator for the entire eight years of Barack Obama’s presidency.

The U.S. on Friday again declined to name any country a manipulator of its currency. The Treasury is required by Congress to identify whether any nation is manipulating currency twice a year, and it announced no major trading partner fell into that category.

The last time China was cited as a currency manipulator was in 1994.

Switzerland joined China, Japan, South Korea, Taiwan and Germany as countries that are under scrutiny for practices including a trade surplus in excess of $20 billion, a current account surplus larger than 3% of GDP and persistent intervention in currency markets in excess of 2% of an economy’s GDP.

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