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President Donald Trump will not name China a currency manipulator this year, despite repeated campaign promises to do so on his first day in office, reports the Washington Examiner.
Trump told the Wall Street Journal that he will not officially name China a currency manipulator in a forthcoming report because the country, he said, hasn’t recently been artificially manipulating the yuan and because doing so would hurt the U.S. in negotiating with China over North Korea.
They’re not currency manipulators,” Trump said.
Trump, who has been critical of China and many of its fiscal doings in the past, had laid out the case that China is a currency manipulator and pledged to take action against the communist nation in a fall 2015 Wall Street Journal op-ed, reported the Examiner. He also utilized the fact that the U.S. government needed a more aggressive stance in negotiations with China was a core theme of his campaign.
Once again Obama fails to classify China as a currency manipulator. He just helped China steal even more jobs and money from us.
— Donald J. Trump (@realDonaldTrump) October 15, 2012
Senate Democratic leader Harry Reid criticized Trump for declining to label China a manipulator Wednesday afternoon, saying in a statement that Trump is giving “them a green light to steal our jobs and wealth time and time again,” explains the Examiner.
“The best way to get China to cooperate with North Korea, is to be tough on them with trade, which is the number one thing China’s government cares about,” Senate Minority Leader Schumer said, according to the Examiner.
According to the report, Trump has also flipped on his approval of the Export-Import Bank, something that the Examiner says the GOP and conservatives have been trying to eliminate for years as an agency of “crony capitalism.”
“It turns out that, first of all, lots of small companies are really helped, the vendor companies,” Mr. Trump said, according to the Examiner. “But also, maybe more important, other countries give [assistance]. When other countries give it we lose a tremendous amount of business.”
Trump also came out on with a change of heart on an aspect of foreign policy Wednesday, when he reversed his position on NATO, an organization he used to called “obsolete.”
Trump news in the last hour:
– I called China a currency manipulator but it now isn't
– I called NATO obsolete but it now isn't
— Daniel Dale (@ddale8) April 12, 2017