China, in his words · Second term · № 107
Said China was manipulating its currency to offset his tariffs
“Today it was announced that China is reducing its currency. Did you see that? Big. Big. In other words, they're going to make up for it. They got every trick in the book. I'll tell you, they are great. You've got to hand it to them. You've got to hand it to them. They've—they're manipulating their currency today as an offset against the tariffs.”
- Said
- , National Republican Congressional Committee dinner, Washington, D.C.
- Subject
- currency manipulation
- Threat
- Economic threat
- Topic
- Trade & tariffs
- Era
- Second term
What the record showed
The Treasury Department's June 2025 foreign exchange report named no country a currency manipulator. Its next report, released January 29, 2026 and covering the four quarters through June 2025, again concluded that no major trading partner had manipulated its currency and stated that "Treasury has not designated China as a currency manipulator in this Report." The same report kept China on its monitoring list and said China "stands out among our major trading partners in its lack of transparency around its exchange rate policies and practices."