Despite pressure, US refuses to label China a manipulator

Dec 20, 2006 | 01:44 PM | Rory Carroll

Despite pressure from U.S. manufacturers, including steel companies, the U.S. Treasury Department declined to label China a currency manipulator in a report to Congress Wednesday, a stance that sparked little surprise among observers but still inflamed passions on Capitol Hill.

"Today, the administration chose to turn a blind eye to China's mercantilist trade practices and once again failed America's domestic manufacturing sector," said Rep. Phil English (R., Pa.), an active member of the House Steel Caucus. "Treasury's findings are a real disappointment and only further point to the need for....

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