Washington: A high-ranking high-ranking official on Tuesday told the United States Congress would not allow China and other countries to manipulate their currencies for export benefits.
Deputy Secretary of Treasury Wally Adeyemo told the Senate Banking Committee to hear that President Joe Biden and Fraughty Secretary Janet Yellen “has been very clear that we will not allow any country unfairly to use the currency to encourage exports.” He said the United States is committed to holding China’s accountability for “unfair actions” that hurt American workers, both unilaterally in the United States and work multilaterally with allies.