AP News

Administration delays China currency report


WASHINGTON (AP) — The Obama administration is delaying a decision that had been due Monday on whether China is manipulating its currency to gain trade advantages.

The Treasury Department says the decision will now come after global finance officials meet in early November.

The delay means the decision will not likely come until after the Nov. 6 presidential election. GOP challenger Mitt Romney has attacked the administration for not targeting China for unfair trade practices.

Treasury says that the currency report due Oct. 15 will be issued after the Nov. 4-5 meetings of finance ministers and central bank presidents. It said the delay would allow the administration to "assess progress" following the discussions in Mexico City of officials of the Group of 20 nations, which includes China.


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