Trump: China, Rus­sia cur­rency cheats

The Washington Times Daily - - POLITICS - — Dave Boyer

Pres­i­dent Trump ac­cused China and Rus­sia Mon­day of de­valu­ing their cur­ren­cies against the U.S. dol­lar, three days af­ter the Trea­sury Depart­ment de­clined to la­bel China a cur­rency ma­nip­u­la­tor.

“Rus­sia and China are play­ing the Cur­rency De­val­u­a­tion game as the U.S. keeps rais­ing in­ter­est rates. Not ac­cept­able,” the pres­i­dent tweeted.

The pres­i­dent is pres­sur­ing China with the threat of tar­iffs to fix Bei­jing’s un­fair trade prac­tices. He said dur­ing the 2016 cam­paign that he would call out China as a cur­rency ma­nip­u­la­tor.

But on Fri­day, the Trea­sury Depart­ment is­sued a semi­an­nual re­port that did not find China was de­valu­ing its cur­rency, called the ren­minbi.

Trea­sury’s re­port is the third straight under Mr. Trump to avoid la­bel­ing China a cur­rency ma­nip­u­la­tor.

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