US Treasury

In a letter to the Commerce Department as part of an annual countervailing duty (CVD) review, the Treasury Department has determined that the Chinese currency was undervalued during the review period, but that this undervaluation was not the result of government action.

In a speech in South Korea on July 18, U.S. Treasury Secretary Janet Yellen explained various aspects of the Biden administration's views on trade policy.

At a Senate Finance hearing today, Senator James Lankford (R-OK) had an exchange with U.S. Treasury nominee Jay Shambaugh on several issues related to the World Bank and China.

Yesterday, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) imposed new sanctions in relation to purchases of Iranian petroleum and petrochemical products, with sales to China implicated by the measures.

Six Republican Senators sent a letter to Treasury Secretary Janet Yellen regarding the Biden Administration’s "delayed plan to combat national security risks associated with TikTok, a social media platform owned by Chinese company ByteDance."

On June 10, the U.S. Treasury Department issued its biannual report to Congress on "Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States." China was not found to be a currency manipulator, but was placed on a "monitoring list."

At a Senate hearing last week on the nomination of Paul Rosen to be Assistant Secretary of the Treasury for Investment Security, there was some discussion of the U.S. investment screening process as it relates to China, and Rosen emphasized that he takes the threat from China seriously.