Donald Trump, who during his presidential campaign said he would call China a currency manipulator on his first day in office, said in an interview with The Wall Street Journal that Beijing was not a currency manipulator. Trump said, “they’re not currency manipulators” and said that he changed his stance because China hasn’t been manipulating its currency for months and because doing so could jeopardize his efforts on countering the threat of North Korea and its nuclear missile programs. Throughout his campaign while pledging to bring manufacturing jobs back to America and threatening a punitive border-adjustment tax on companies that shifted manufacturing to Asia’s largest economy. Indeed, the US Treasury has China and five other nations on a “watch list” of countries at risk of manipulating foreign exchange and is expected to release its first currency report under the new administration this month, according to the Financial Times.
Categories