Trump Says China Not FX Manipulator, Sees Dollar Too Strong
Source: Bloomberg
President Donald Trump said he wont 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 hasnt been intervening to weaken its currency recently. Theyre not currency manipulators," he said.
Its a shift of opinion after Trump accused China during last years 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 its 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...
JHan
(10,173 posts)Sunlei
(22,651 posts)RDANGELO
(3,430 posts)This pushes down wages here and facilitates income inequality.
exboyfil
(17,857 posts)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)Link to tweet
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)truthisfreedom
(23,113 posts)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.
Ilsa
(61,675 posts)Americans buy will cost them more.
brooklynite
(93,847 posts)A weak dollar mean people can buy OUR stuff cheaper, so Trump can claim a trade "victory".
Ilsa
(61,675 posts)I can't afford a jumbo jet or tomahawk missiles.
Wellstone ruled
(34,661 posts)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)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!
Ilsa
(61,675 posts)Renew Deal
(81,801 posts)bora13
(860 posts)as deportations still occur, the deplorables will not mind...