US Treasury Secretary Timothy Geithner said that the US would delay the April 15 release of a report on the currency policies of trading partners, the Wall Street Journal reported. Geithner made his comments after the announcement that President Hu Jintao would attend a major summit on nuclear security in Washington on April 12. Noting that such upcoming high-level meetings were the "best avenue for advancing U.S. interests at this time," Geithner nonetheless suggested that China must change its reliance on "currency intervention." By delaying the release of the report, the US hopes to give China more political flexibility to revalue the renminbi by relieving external pressure. However, some US politicians, including Democratic Senator Charles Schumer, have vowed to continue with legislation that would impose tariffs and other penalties on China if it does not take action to revalue its currency.
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