US Treasury delays report on yuan manipulation

The US Treasury is delaying a report on China’s manipulation of the yuan, which was due out on 15 Ap

The US believes China deliberately distorts the value of its currency by keeping it artificially low to help its exports.

Although the US government is under pressure from members of Congress, who believe the low yuan directly affects the local economy, it wants to avoid any unilateral trade sanctions.

The US Treasury Secretary Tim Geithner said he would delay publishing the report until a series of high-level international meetings with high-ranking officials.

Geithner said he hopes to encourage the communist nation to change its currency position when the two superpowers meet at upcoming events such as the G20 meeting and a US-China summit.