4 Apr 2010

US delays China currency report

1:16 pm on 4 April 2010

The United States Treasury Secretary Timothy Geithner is delaying the release of a report on whether China manipulates its currency.

The delay in publication, that had been due on 15 April, means the report will not come out until after a visit to Washington by the Chinese president Hu Jintao for a nuclear summit.

During his visit, the US is expected to push hard to sign China up to sanctions against Iran over Tehran's nuclear programme.

It is no secret that the US believes China keeps the yuan artificially low, harming the US economy, the BBC says, but saying that in an official report is a different matter.

Mr Geithner justified pushing back his report to the US Congress by saying he would use upcoming events, including a G20 meeting and a US-China summit, to try to encourage the communist superpower to change its currency position.