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China currency manipulation

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China currency manipulation

trump17What’s probably going on, is that people are convincing Trump that his own pecuniary aggrandizement could be inhibited if he follows through on many of his campaign promises.
 

Trump backed away from a signature pledge of his White House bid on Wednesday, days before release of a closely-watched Treasury Department report on the currency practices of major U.S. trading partners.
 
“They’re not currency manipulators,” Trump told the Wall Street Journal in an interview.
 
The currency decision is one among many instances of Trump reversing course since taking office a little less than three months ago. Within the space of a few hours on Wednesday, Trump changed previously critical stances on the U.S. Export-Import Bank, the value of NATO, interest rates, and Federal Reserve Chair Janet Yellen.
 
Likewise, his promises to renegotiate NAFTA, slap tariffs on Chinese goods, and repeal and replace the Affordable Care Act in his first days have been stymied, delayed or abandoned. And the missile strike on a Syrian airfield last week was the sort of foreign military intervention that candidate Trump had warned against.
(Bloomberg)

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