U.S. Treasury declines to label China a currency manipulator but says recent yuan weakness is a concern

Bloomberg News/Landov
Treasury Secretary Steven Mnuchin met with senior Chinese officials earlier this month on the sidelines of the International Monetary Fund (IMF) and World Bank Group Annual Meetings in Bali, Indonesia.

The Treasury Department again declined to label China a currency manipulator, instead settling for a stern warning about a recent slide in the value of the Chinese yuan.

“Of particular concern are China’s lack of currency transparency and the recent weakness in its currency,” Treasury Secretary Steven Mnuchin said in a statement that accompanied the formal report on Wednesday.

Treasury said it estimated the direct intervention by the People’s Bank of China this year “has been limited.

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