Steven Mnuchin testifies before a Senate Finance Committee confirmation hearing on his nomination to be Treasury secretary in Washington. Photo: Reuters/Joshua Roberts

The US Treasury would recommend China be considered a currency manipulator if Beijing began unfairly managing the yuan’s value, President-elect Donald Trump’s nominee to run the Treasury department, Steven Mnuchin, said on Thursday.

Asked in a US Senate hearing if he would recommend Trump formally designate China a currency manipulator if it started manipulating its currency again, Mnuchin said: “I would.”

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.