Administration does not brand China currency manipulator

WASHINGTON (AP) — The Trump administration has once again declined to label China a currency manipulator, even though Donald Trump repeatedly pledged during last year’s presidential campaign that he would do so as soon as he took office.

Instead, the administration, in a report it must issue every six months, kept China and four other nations — Germany, Japan, South Korea and Switzerland — on a watch list for special attention because of their large trade surpluses with the United States.

The decision not to brand China a currency manipulator had represented one of the sharpest reversals from a Trump campaign stance. He explained in April that he believed China had stopped manipulating its currency and that it was more important to focus on cooperation with Beijing in dealing with North Korea.