Mnuchin does express concern on the yuan but the report falls short of naming China
- Mnuchin says China's lack of currency transparency and recent weakness of yuan are issues of concern
Treasury says it estimates Chinese central bank's direct intervention in currency has been limited this year
- Says China, Germany, India, Japan, South Korea, Switzerland warrant placement on currency monitoring list
- Says no major trading partner has met legislative standards for currency manipulation
Mnuchin says US will monitor and review china's currency practices, including in ongoing talks with Chinese central bank
- Says recent depreciation of Chinese currency will likely exacerbate China's trade surplus with US
This is all pretty much as expected, there were some speculations treasury could use more arcane rules to name China but these expectations were always an outlier. Note some trading partners are confirmed as being on a 'watch' list, but also clarifies none of them meet the criteria for being labelled as manipulators.
--
OK, so no one named as a currency manipulator
The next report from the Treasury on this will be in April 2019
