The Trump administration formally removed China’s designation as a “currency manipulator” on Monday, offering a major concession to the Chinese government as senior officials arrived in Washington to sign a trade agreement with President Trump.
The Treasury Department released its long-delayed currency report, providing its first public analysis of China’s currency practices since it designated China a manipulator in August. The report noted that China — which Mr. Trump had accused of weakening its currency, the renminbi, to make its goods cheaper to sell overseas — had made important commitments regarding the renminbi as part of the new trade agreement and that its value had appreciated since September.