US Presses China to Open its Markets
By wchung | 19 May, 2026
The top U.S. trade official says China’s decision to let its currency appreciate against the dollar was a good start, but China must do more to open its markets to American goods.
U.S. Trade Representative Ron Kirk told a Senate Committee Wednesday the Obama administration will continue to press China to open its markets. Kirk said President Barack Obama will raise currency and other trade issues in talks with Chinese officials at this weekend’s G-20 summit of wealthy and developing nations in Canada.
China announced over the weekend it would give up a two-year-old peg of its currency to the U.S. dollar, allowing the yuan to appreciate in value.
STEPHEN OHLEMACHER,Associated Press Writer WASHINGTON (AP)
Recent Articles
- Trump Signals Nuclear Deal Possible, Pauses Strikes
- Starbucks Korea Head Fired After Promotion Sparks Public Uproar
- Japan, China Led Declines in Foreign Holdings of Treasuries in March
- Elon Musk Loses Jury Trial Against OpenAI, Altman
- China's Economy Lost Steam in April as Consumption, Output Disappoint
- Nikka Bets Japanese Whisky Boom Has Room to Run
- Trump Got a Small Rare Earth Win but Failed to End China's Export Controls
- Xpeng Begins Mass Production of Robotaxis in Guangzhou
- Baidu Beats Q1 Revenue Estimates as AI Cloud Surge Offsets Ad Slump
- Musk Expects Widespread Use of Cars Without Human Monitors in 2026