MW: Treasury to delay report on currency manipulation
By Greg Robb
WASHINGTON (MarketWatch) -- The Treasury Department announced Friday that it would delay its next report to Congress on currency manipulation until after several upcoming high-level international economic meetings in April and May. The report was due on April 15 but is often late. In recent months, the Obama administration has been pushing China to allow its currency to strengthen at a faster rate but has not taken the next step to say that China is manipulating its currency. Analysts said that if the White House ever decided to label China a currency manipulator, it would likely give Congress a green light to pass protectionist legislation aimed at slowing Chinese imports into the U.S. Many manufacturing firms have been pushing Congress for action on China's currency policy. They argue that China has kept its exchange rate artificially low in order to gain an avantage over competitors.
