The Trump administration is dropping its designation of China as a currency manipulator in advance of the signing Wednesday of a Phase 1 U.S.-China trade agreement.
The preliminary pact that the two sides are set to sign includes a section that's intended to prevent China from manipulating its currency to gain trade advantages.
The action announced Monday comes five months after the Trump administration had branded China a currency manipulator — the first time that any country had been so named since 1994 during the Clinton administration.
