Trump says China won't be labeled a currency manipulator

Saturday, 15 Apr, 2017

"The best way to get China to co-operate with North Korea is to be tough on them with trade, which is the No. 1 thing China's government cares about", Senate Democratic Leader Charles Schumer of NY said.

"There's some speculation that the downside pressures may not be sustainable from jawboning alone, but combined with the current swing into risk-off trades and the questions that are mounting over the new US administration's ability to deliver against campaign promises, and the sell-off certainly looks warranted", Tony Cross, market analyst for TopTradr, said in a note. That will be all right, too.

"It could also be taken as an implicit threat to other countries that if the dollar stays strong and if USA bilateral trade imbalances with its major trading balances stay high or continue to expand, that he will take some sort of action", Prasad said.

"It think it's wonderful that they abstained", Trump said. But I think China fears that if the US starts putting restrictions on imports from China, that could affect how other countries perceive China as well.

"Maybe he's learning on the job", said Carl Tannenbaum, chief economist at Northern Trust in Chicago, noting that with Trump's transition from candidate to president he was now being counseled by more orthodox voices sensitive to what is needed to keep global bond markets on an even keel.

President Trump also revealed a major policy U-turn as he said the United States government would not label China a currency manipulator.

"It's hundreds of billions of dollars of year for many many years".

Early in the campaign, Trump told Bloomberg's Mark Halperin that he didn't like the agency, which was "unnecessary". I said you know, we're not going to let that go ahead. "Instinctively, you would say, 'Isn't that a ridiculous thing.'". Solve the problem in North Korea.' That's worth having deficits. "Ok, I'll make great deals", he said.

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Today, it went for me. "After yesterday I don't have any more space to think about the game", Sokratis is quoted as saying. I am happy that all the players are alive, and all the staff are alive.

Trump, for example, repeatedly accused China of manipulating its currency during the campaign.

"The single biggest weapon used against us and to destroy our companies is devaluation of currencies, and the greatest ever at that is China", he said at a New Hampshire rally.

The president told the paper, "They're not currency manipulators", adding that he changed his mind because China has not been manipulating currency for months and that making good on his campaign promise now could jeopardize talks with China about tackling the threat of North Korea.

On North Korea, Trump didn't outline any concessions China was offering apart from the coal cutoff, which was announced two months ago.

"You can not allow a country like that (North Korea) to have nuclear power, nuclear weapons. But to just randomly say, 'You're getting off the plane, ' that was bad".

In a press conference alongside NATO Secretary General Jens Stoltenberg on Wednesday, Trump rhapsodized on his "chemistry" and "bonding" with Xi and praised the Chinese leader for his help on North Korea and Syria.

Oil prices ended lower after reversing earlier gains due to a report on USA crude stockpiles. "I took a lot of heat for two days". "I don't like it because I don't think it's necessary". President Trump said in that clip that he established some personal rapport with Xi and that may have helped to narrow the differences between them.

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