The U.S. declined to label China a currency manipulator in a new Treasury report, but accuses Beijing of standing out among America’s major trading partners for lacking transparency.

Senator Cynthia Lummis announced that the US military supports her initiative to acquire one million Bitcoins. According to Lummis, the United States is engaged in an economic war with China and must take steps to prepare.

In the first formal assessment of US trading partners’ foreign-exchange practices since President Donald Trump returned to office, the Treasury Department declined to name any country a currency manipulator while singling China out for “its lack of transparency.

China’s export growth slowed in May as intensified US tariffs increased trade pressure, triggering volatility in financial markets with USD/CNH hovering below a key level.

U.S. economic growth will slow to 1.6% this year from 2.8% last year as President Donald Trump’s erratic trade wars disrupt global commerce, drive up costs and leave businesses and consumers paralyzed by uncertainty.