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Treasury Designates China as a Currency Manipulator

Aug 05, 2019 - Targeted News Service

The U.S. Department of the Treasury issued the following news release:

The Omnibus Trade and Competitiveness Act of 1988 requires the Secretary of the Treasury to analyze the exchange rate policies of other countries. Under Section 3004 of the Act, the Secretary must "consider whether countries manipulate the rate of exchange between their currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in in...