Trump says China won't be labeled a currency manipulator

Justin Greene
April 14, 2017

And the US also got China's abstention in a United Nations Security Council vote to condemn Syria for the use of chemical weapons. Asian stock markets were mostly lower Thursday after Wall Street fell for a second day and U.S. President Donald Trump w.

Trump told the Journal China has not manipulated its currency for months.

MARTIN: So key to this is China's help with North Korea which is an urgent threat.

Trump, for example, repeatedly accused China of manipulating its currency during the campaign.

Also this week, Trump reversed his view of the Export-Import Bank, a government agency that provides loan guarantees to finance USA exports.

But in an interview with the Wall Street Journal on Wednesday, Mr Trump said China had not been "currency manipulators" for some time and had been trying to prevent further weakening.

"The Art of the Deal" appears to have edged out the "The Art of War" for now, as the presidents of the US and China spoke of agreements reached at their summit at President Trump's resort in Palm Beach, Fla., last week, including an apparent deal to cooperate in grappling with the North Korean nuclear issue.

China has been criticized for years by other countries for its heavy-handed efforts to keep the yuan undervalued. Trump's predecessors had largely kept such disputes separate.

That would mark the dollar's steepest weekly fall since before the USA presidential election in November and the sharpest yield drop since June 2016. "He may just be hedging his bets by making sure that the American public realizes he's not backing down on trade". That will be all right, too. -China talks to crack down on North Korea. And it'll also allow the focus on what is really important for US economic and business interests trying to get better market access in China, and other issues like better protection of intellectual property rights.

Trump has continually changed his policies since launching his presidential campaign in 2015, and whether his latest statements represent a shift or a one-off set of comments remains to be seen. He and Putin talked on the phone last week after a deadly subway bombing in the Russian city of St. Petersburg. -China relationship moving forward.

Trump hailed China's abstention. Beijing had joined Moscow in vetoing several previous Western-backed resolutions under President Barack Obama. Do we know if China did something different here? In February, China banned coal imports from North Korea for the rest of the year.

Twice as many stocks fell as rose on the New York Stock Exchange, while trading in declining stocks was 2.5 times as heavy as that of stocks that closed higher.

Trump has given heft to the USA demand with shows of force. First, while Xi was visiting last week, Trump ordered 59 cruise missiles fired on a Syrian air base in response to government forces' alleged use of a sarin-like nerve agent.

There are fresh concerns about the French presidential election and possible US military action against Syria and North Korea.

Bonnie Glaser, a China expert at the Center for Strategic and International Studies, said the development "bodes well for co-operation between the US and China". "It's very early", he said when asking about her reappointment. "That is the real litmus test".

The Treasury is expected to release its first currency report under Trump this month. The next report is supposed to come out this week.

"The best way to get China to co-operate with North Korea is to be tough on them with trade, which is the No. 1 thing China's government cares about", Senate Democratic Leader Charles Schumer of NY said.

"These large firms are all politically powerful and when you're actually sitting there at the White House, they're talking to you", he says. But Yellen has a reputation for being slow to raise interest rates, and Trump had also professed his preference for low interest rates in the past.

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