Treasury Secretary Steven Mnuchin on Tuesday praised China for supporting its currency at a time when Washington and Beijing are locked in a trade war.
“Their currency is more of a controlled currency than other markets that are free access,” Mnuchin told CNBC. “But if they go in and support their currency, that is not currency manipulation.”
“If they [China] let their currency weaken, either for structural reasons or for actual manipulation, that is something that is manipulation,” he added in the interview on “Squawk Box.”
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