China, in his words · First term · № 57
Accused China of "currency manipulation" after the yuan fell
“China dropped the price of their currency to an almost a historic low. It’s called “currency manipulation.” Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!”
- Said
- , Post on Twitter (@realDonaldTrump)
- Subject
- currency manipulation
- Threat
- Economic threat
- Topic
- Economy & prices
- Era
- First term
What the record showed
The Treasury Department designated China a currency manipulator the same day, stating that Secretary Steven Mnuchin acted "under the auspices of President Trump." On January 13, 2020, two days before the Phase One agreement was signed, Treasury's report to Congress concluded that no major U.S. trading partner met the legal criteria for currency manipulation and placed China on its monitoring list. In April 2017 Trump had declined to apply the label, tweeting, "Why would I call China a currency manipulator when they are working with us on the North Korean problem?"
Sources
- Tweet: 'China dropped the price of their currency to an almost a historic low. It's called "currency manipulation."'
- Treasury Designates China as a Currency Manipulator
- Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States
- Remarks With Vice Premier Liu He of China on Signing the United States-China Phase One Trade Agreement
- Tweet: 'Why would I call China a currency manipulator when they are working with us on the North Korean problem?'