WASHINGTON -- The U.S. Treasury Department on Monday removed China's designation as a currency manipulator for the first time in five months as the countries prepare to sign the first phase of a trade deal.
The deal to be signed Wednesday is expected to include language providing more clarity into China's currency practices, including a promise to refrain from competitively devaluing the yuan. The U.S. is easing its stance, as it believes the clause will lower the risk of currency manipulation by China.
