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brooklynite

(93,847 posts)
Wed Apr 12, 2017, 04:34 PM Apr 2017

Trump Says China Not FX Manipulator, Sees Dollar Too Strong

Source: Bloomberg

President Donald Trump said he won’t brand China a currency manipulator, retreating from core campaign promise, though he argued that a strong dollar is hampering the ability of American firms to compete.

Trump, in an interview with the Wall Street Journal on Wednesday, appeared to acknowledged that China hasn’t been intervening to weaken its currency recently. “They’re not currency manipulators," he said.

It’s a shift of opinion after Trump accused China during last year’s election campaign of manipulating its currency to gain the upper hand in trade and vowed to label the country a manipulator on his first day.

U.S. 10-year bond yields slumped and the dollar fell after Trump indicated in the interview that the U.S. currency is getting so strong that it’s harmful to the economy, while other nations “are devaluing” their currencies.

Read more: https://www.bloomberg.com/news/articles/2017-04-12/stores-play-hide-and-seek-with-ivanka-s-products



Another campaign promise down the drain...
15 replies = new reply since forum marked as read
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RDANGELO

(3,430 posts)
3. We are still running very large trade deficits with them.
Wed Apr 12, 2017, 04:40 PM
Apr 2017

This pushes down wages here and facilitates income inequality.

exboyfil

(17,857 posts)
4. Why didn't the WSJ
Wed Apr 12, 2017, 04:43 PM
Apr 2017

ask them if his policy change was because of the recently granted trademarks? Also throw in the policy change regarding Taiwan.

Wait don't answer that. It would require a real reporter to ask the question.

procon

(15,805 posts)
5. Stupid, ignorant man.
Wed Apr 12, 2017, 04:47 PM
Apr 2017






BREAKING: Dollar falls sharply to session low, 10-year slide after Trump says dollar' getting too strong'



Well, he got what he asked for, but now who is the currency manipulator?

Sunlei

(22,651 posts)
12. trump stated that during live presser with NATOs Norway General. OMG trump is so out of his league.
Wed Apr 12, 2017, 05:27 PM
Apr 2017
I wish the NATO General was Americas President.

truthisfreedom

(23,113 posts)
6. Started with zero ideas, still has zero ideas.
Wed Apr 12, 2017, 04:48 PM
Apr 2017

He's hopelessly surrounded himself with unskilled buffoons and sycophants. His whole life has been shortchanging, cheating, swindling, bankruptcy and cutting corners. None of those activities will work for him now.

brooklynite

(93,847 posts)
8. No, no, no...you misunderstand...
Wed Apr 12, 2017, 04:54 PM
Apr 2017

A weak dollar mean people can buy OUR stuff cheaper, so Trump can claim a trade "victory".

 

Wellstone ruled

(34,661 posts)
11. Actually what happens is,
Wed Apr 12, 2017, 05:26 PM
Apr 2017

Foriegn Investors are pulling their money out of the US and spending it in Germany and others progressive countries with more stable currencies.


Winners are Germany,France,the Nordic Countries. Biggest losers,USA,and Britain.

procon

(15,805 posts)
13. Yeah, but wealthy foreign tourists can now afford to stay in Trumps
Wed Apr 12, 2017, 06:23 PM
Apr 2017

cheesy, gold plated hotels. Ka-ching! It's a transfer of wealth from the poor to the rich and Trump is getting richer while the rest of us -- especially all those morans who voted for him! -- are getting poorer.


Thanks Trump!

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