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Mnuchin warns China against devaluing currency, says renminbi agreement must be part of trade deal

CNBC.com
Mnuchin warns China against devaluing currency, says renminbi agreement must be part of trade deal

Treasury Secretary Steven Mnuchin has told China not to weaken its currency as the U.S. and China try to resolve their trade differences. Mnuchin told the Financial Times the U.S. Treasury Department is closely watching the currency market and wants to talk about the issue with China as part of trade discussions. "As we look at trade issues there is no question that we want to make sure China is not doing competitive devaluations," Mnuchin said to the media outlet. "The renminbi has depreciated significantly during the year … We are going to absolutely want to make sure that as part of any trade understanding we come to that currency has to be part of that." Renminbi is down 6.5 percent this