– Donald J. Trump (@realDonaldTrump) April 16, 2017During an interview last week, the president said he would not label China a currency manipulator, breaking from his campaign promise to do so. When will we begin to see policy?
No major trading partner is manipulating its currency for an unfair trade advantage, according to the first foreign-currency report released by the Treasury Department under President Donald Trump on Friday.
Taiwan’s Central Bank said Saturday that the results have been anticipated by the bank so the latest USA currency report is unlikely to impose any material adverse impact on the local foreign exchange market.
Keeping the renminbi low gave its exporters a competitive edge by making Chinese goods more affordable overseas and other nations’ products costlier for Chinese buyers.
Now, China needs to show that its lack of intervention in the currency markets “to resist appreciation” over the past three years is a “durable” policy by allowing the yuan to strengthen “once appreciation pressures resume, ” the Treasury said. The designation means there will be intense talks between the U.S. and the labeled country and can lead to tariffs imposed by the US.
Trump has also been very vocal regarding his displeasure of Germany’s huge trade surplus, the largest in the world.
President Donald Trump takes credit for revitalizing the USA economy even though he has not yet been in office for 100 days.
“Treasury finds that six major trading partners warrant being placed on the monitoring list for special attention: China, Germany, Japan, Korea, Switzerland and Taiwan”, the report said.
The US and allies have been locked in long-standing hostility with North Korea, as the latter remains technically at war with its neighbour to the South since the end of the Korean War more than 60 years ago.
Eric Trump was speaking hours before North Korea leader Kim Jong-un oversaw a parade of what appeared to be new intercontinental ballistic and submarine-based missiles on the 105th anniversary of the birth of the country’s founding father, Kim Il-sung. Indeed, from a United States point-of-view, it may be a good thing. And I will say this.
The official statement from President Xi, as translated by CNN, stated the goal of resolving the issue ‘through peaceful means’.
Also, Trump and Russian President Vladimir Putin’s shared tendency toward nationalist, “don’t-mess-with-us” rhetoric may be putting the pair on a collision course.
“This is an interesting shift of gears”, Bouie said, a shift that likely reflects how the president doesn’t have much expertise and is an “empty vessel” ready to be shaped by his advisers.
“Look, there are some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good”, he told The Journal.
Despite initial media reports suggesting Xi may have offered access for US beef as a concession to stave off rising trade tensions, China’s Premier Li Keqiang this week appeared to link progress on the issue to USA restrictions on imports of some Chinese poultry products for food safety reasons.
Trump expressed confidence that things will “work out fine” with Russian Federation and hoped that China would “properly deal” with North Korea. “And we’re going to – we’re going to win with or without, but I do disagree”. That will be alright too. Trump dismissed America’s Russian Federation hawks as “stupid people or fools” and predicted under his leadership that the Cold War foes would “work together to solve some of the many great and pressing problems and issues of the world”.