Treasury secretary nominee Steven Mnuchin has told senators that he will work to combat currency manipulation but did not give a clear answer on whether he currently views China as manipulating the yuan, according to a Senate Finance Committee document seen Monday.
In written answers to supplemental questions from the committee following his confirmation hearing last week, Mnuchin did not close the door to a potential Treasury declaration of China as a currency manipulator.
Asked by Sen. Orrin Hatch, the committee's pro-trade Republican chairman, if he agrees that China appears to have stopped trying to devalue its currency and is now trying to prevent depreciation, Mnuchin wrote: "If confirmed, I intend to review the issue of Chinese currency manipulation."