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China will not negotiate the Yuan Rate for Trade Disputes: the State Department



China will not use the yuan's exchange rate as a negotiating chip to resolve trade disputes with the United States, a foreign affairs spokesman said Wednesday.

China will not resort to currency depreciation for competitive purposes in the trade and hope the US can respect market rules and not politicize currency problems, said Geng Shuang, a foreign minister spokesman, by a routine press release.

Some comments came with the US pushing China to keep the yuan stable as part of a deal to end its trade war.

The United States is seeking a pledge from China that it will not devalue the yuan to counter US tariffs, Bloomberg reported. Officials from the two countries are discussing how to deal with currency policy in a cooperation agreement that will provide a basis for a US-China trade agreement, Bloomberg reported.

Chinese Vice President Liu He will visit Washington this week for another round of trade talks, his second trip for three weeks, when the two countries run the clock to make an appointment to avert an escalation in the trade war before a March 1

. The conversation follows a round of negotiations that ended in Beijing last week without an agreement, but with signs of progress.

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