U.S. removes China's currency manipulator designation

APD NEWS

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The United States removed China from a list of countries it considers currency manipulators.

The U.S. Treasury submitted a report to Congress saying no major trading partner met the criteria for currency manipulation.

"The Treasury Department has helped secure a significant phase one agreement with China that will lead to greater economic growth and opportunity for American workers and businesses," said U.S. Treasury Secretary Steven T. Mnuchin.

"China has made enforceable commitments to refrain from competitive devaluation, while promoting transparency and accountability.”

Chinese Vice Premier Liu He arrived Monday in Washington DCto sign a "phase one" trade agreement with Washington.

(CGTN)