Geithner to travel to China and Japan next week

AP News
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Posted: Jan 04, 2012 12:10 PM
Geithner to travel to China and Japan next week

Treasury Secretary Timothy Geithner will travel to Beijing and Tokyo next week for discussions about the global economy and Iran sanctions.

The trip follows the Obama administration decision to not name China a currency manipulator. That upset U.S. manufacturing groups, who contend China is undervaluing its currency for trade advantages.

The Treasury Department said Geithner will meet on Jan. 10-11 with Chinese Premier Wen Jiabao, Vice President Xi Jinping and Chinese Vice Premier Wang Qishan.

On Jan. 12, Geithner will meet in Tokyo with Japan Prime Minister Yoshihiko Noda and Finance Minister Jun Azumi.

Treasury said Geithner will discuss sanctions on Iran with both nations' leaders. Last week, President Barack Obama enacted new penalties on Iran's central bank aimed at hampering Tehran's ability to fund nuclear enrichment.