Two senior US senators, from different parties, have called on the Trump administration to take firmer action against what they see as China’s ongoing currency manipulation. Senators Elizabeth Warren and Rick Scott emphasized that China’s actions are distorting global trade, harming American workers, and disadvantaging US manufacturers. The senators, in a joint letter to Treasury Secretary Scott Bessent after the G7 summit in France, highlighted the need for coordinated efforts with US allies and proposed considering China as a currency manipulator.
Warren and Scott pointed out that China is allegedly keeping its currency undervalued to make its exports cheaper and American products more expensive. They noted that China has altered its intervention methods in recent years, making them harder to monitor. The senators highlighted that China’s lack of transparency in foreign exchange interventions sets it apart from other major US trading partners.
The bipartisan move comes as the Trump administration seeks international support to address trade imbalances with China, a key topic at the G7 meeting. The senators emphasized the importance of addressing China’s currency practices directly in the next Foreign Exchange Report. They also stressed the need for a unified response from G7 nations to pressure China for market-driven currency appreciation and increased transparency in its exchange rate policies.
