From the Wall Street Journal:

  • “U.S. Treasury Secretary Jacob Lew said Tuesday he would press China in high-level talks next week for more currency appreciation amid U.S. accusations that Beijing is continuing to suppress the value of the yuan”

More from the Wall Street Journal article here (gated): Lew to Press China on Yuan Appreciation

  • After years of steady appreciation in the value of the yuan, some economists question whether China is done lifting the exchange rate
  • Beijing argues the currency’s value is now determined by the market, an assessment the U.S. challenges.
  • some say that Washington’s other trade irritants are a higher priority and that the administration’s yuan-rhetoric is largely for domestic political consumption.

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China’s expected response (via me):

  • China says “**** you, Lew” (in the nicest possible way, of course)