U.S. and China Are Haggling Over How to Enforce Currency Pact
- FX will be key to broader Washington-Beijing trade deal
- Talks continue in Washington ahead of U.S. tariff deadline
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The U.S. and China haven’t yet agreed on the critical issue of enforcement in a proposed currency deal that would ensure Beijing lives up to its promise to not depreciate the yuan, four people familiar with the matter said.
Treasury Secretary Steven Mnuchin on Friday touted the currency pact as the strongest ever, though he offered no details, following two days of high-level talks in Washington between U.S. and Chinese officials.