WASHINGTON (AP) — The U.S. declined to label China a currency manipulator in a new Treasury report released Thursday, but accuses Beijing of standing out among America’s major trading partners for lacking transparency in its exchange rate policies.

Treasury’s semi-annual report to Congress — called Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States— comes as the Trump administration seeks to strike a trade deal with China, averting a trade war that has been brewing between the two nations.

A Treasury official told reporters previewing the report that the U.S. could in the future find evidence that China is manipulating its currency and will make a determination in the fall whether China has been manipulating the renminbi, also known as RMB.

During

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