The U.S. Treasury Department has again declared that China is not a currency manipulator.

A report said officials are 'deeply disappointed' in China's actions, but they don't rise to the level of manipulation.

This is at odds with President Donald Trump's claims otherwise.

The report did say that China would be kept on a financial watch-list, along with several U.S. allies.

Washington has not labeled China a currency manipulator since 1994.