04/13/2017

Trump Won't Label China A Currency Manipulator

Olivia Beavers, The Hill

President Trump on Wednesday said he will not be labeling China a currency manipulator, breaking from his campaign promise to do so.

"They’re not currency manipulators," Trump told the The Wall Street Journal in an interview. He added that China hadn’t been manipulating its currency for months and that he doesn’t want to throw a wrench into U.S.-China talks on North Korea.

On the campaign trail, Trump repeatedly accused China of manipulating its currency to hurt the U.S. in trade, and vowed to take action as president.

Trump also slammed former President Barack Obama publicly for refusing to call China a currency manipulator.  

But Trump reportedly did not raise the issue during a meeting last week with Chinese President Xi Jinping.

The Treasury Department is legally required to release biannual currency reports to Congress regarding major trading partners who are unfairly manipulating currencies.

The report expected this month will be Treasury's first currency report of the Trump administration.

In the interview, Trump also said he thought "our dollar is getting too strong.

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