Geithner: China will adopt flexible forex policy

US Treasury Secretary Timothy Geithner said yesterday that he expects China to move on its exchange rate, Reuters reported, citing comments by Geithner to Fox Business Television. "I think China will ultimately decide it’s in their interest to move…to a more flexible exchange rate," he said. Geithner was under pressure to say whether he supported a move in the US Senate to levy countervailing duties on some Chinese imports unless Beijing revalues the renminbi upward. He said that the US administration has yet to come to a decision on whether to label China a currency manipulator in its upcoming semi-annual report on US trading partners, due April 15. Geithner also said he is not concerned about a potential trade war with China.