Aryanews- U.S. Treasury Secretary Timothy Geithner said on Saturday he was delaying an April 15 report on whether China manipulates its currency but pledged to press for a more flexible Chinese currency policy.
The decision may help thaw relations two weeks before China's president was due to visit Washington. However, Geithner also tried to soothe angry U.S. lawmakers by saying he will use upcoming meetings of the Group of 20 and a U.S.-China economic summit in Beijing in May to try to get China to move.
"I believe these meetings are the best avenue for advancing U.S. interests at this time," Geithner said in a statement issued at midday on the Easter holiday weekend. Treasury gave no indication when it will actually release the report.
The U.S. Treasury chief, who had faced rising pressure from Capitol Hill to take a stiffer line with China in the semi-annual report on April 15 by naming it a manipulator, cast the issue as one of persuading China to accept greater responsibility as a key global trade partner.