Trump admin. declines to brand China a currency manipulator

Tammy Harvey
April 15, 2017

Asked specifically if his decision on currency was part of an agreement over North Korea, Trump responded: "We're going to see".

Most presidents learn on the job and course-correct with experience.

Trump's softer tone on Japan, China and North Atlantic Treaty Organisation have all come after face-to-face meetings with their leaders, who each sought to mimic the businessman's transactional approach. Asian stock markets were mostly lower Thursday after Wall Street fell for a second day and U.S. President Donal.

American presidents adapt to reality because American national interests endure.

'The difficulty for Trump on this front is that this all clearly runs counter to a weaker currency and offers him little room for accusing trade partners (particularly those in regions that are maintaining soft monetary policies of their own) that they are actively manipulating their currencies with a view to damaging the U.S. economy for their own financial gain'. But his national security cabinet, which now seems to be finding its feet, is in keeping with American foreign policy traditions.

In the West Wing, globalists like Trump's daughter Ivanka, son-in-law Jared Kushner and top economic adviser Gary Cohn are on the ascendency.

Trump's economic adviser Gary Cohn and adviser Jared Kushner listen to President Trump at a meeting with business leaders January 23.

Trump remains at odds with much of Washington's bipartisan foreign policy establishment.

But Syrian President Bashar al-Assad's alleged April 4 chemical weapons attack on his own civilians triggered Trump's outrage, leading him to strike a Syrian airfield with Tomahawk missiles and seeming to mark a change in Trump's outlook on Russian Federation - which has supported Assad throughout Syria's bloody civil war. It is also telling that the tangible threat of American military action against North Korea is on the table after eight years of a policy the Obama administration termed "strategic patience", which created a window of opportunity Pyongyang used to continue to flawless its intercontinental ballistic missiles and nuclear-weapons programs while America looked away.

Trump's upbeat assessment of the relations with China contrasted with blunt talk about ties with Russian Federation, a country with which he had repeatedly vowed to start a new partnership.


The results from banks kicked off what is expected to be a strong first-quarter US reporting season. North Korea conducts some 90 percent of its trade with China. But the reversal could also mean that Trump and Chinese President Xi Jinping may have figured a way to fix the trade imbalance and the tension in the Korean peninsula during their meeting earlier this month in Florida.

Instead, the first currency review of the Trump administration singled out China and five other countries as needing to be monitored for their currency practices. Without addressing the bilateral trade deficit, Mr. Trump can not deliver 3 percent to 4 percent growth.

TRUMP WATCH: Trump said he won't declare China a currency manipulator, dropping a key campaign promise.

Abruptly imposing a 45 percent tariff would unnecessarily disrupt both the Chinese and US economies. As Tillerson pointed out on his way to Moscow to meet Putin, Assad now has become a liability rather than an asset to Russia's geopolitical ambitions. But Taiwan is a non-negotiable item for China and Trump had to back down. It has not been subjected to the kind of global crisis that tests nearly every administration, and which will call into question not only its statecraft but the judgment of the commander-in-chief.

The report said initial jobless claims dipped to 234,000, a decrease of 1,000 from the previous week's revised level of 235,000.

That's a similar position to Obama, who had advocated for the bank's role. -China relationship in ways that preclude both condominium and conflict.

CURRENCY: After slumping in the wake of Trump's comments, the dollar steadied at 109.10 yen, compared with Wednesday's 108.80 yen.

"I think he wants to help us on North Korea", Trump said of Xi, praising China for rejecting shipments of North Korean coal, a move that puts financial pressure on the repressive regime in Pyongyang.

The report did call out China's past efforts to hold down the yuan's value, saying this created a long-term "distortion" in the global trading system that "imposed significant and long-lasting hardship on American workers and companies". Taking back the initiative on trade and investment liberalization in the vacuum left by TPP's collapse will be essential to this administration's foreign policy success.

The United States absorbed the brunt of this onslaught.

Other reports by Ligue1talk

Discuss This Article

FOLLOW OUR NEWSPAPER