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Trumph under review of exchange rate manipulation.. Aiming China

 

US President Donald Trump said the administration is considering ways to decide whether to manipulate foreign exchange rates.

 

“We are searching for the trace of manipulation of foreign exchange rates, and should be dealt firmly” Trump told the White House office in an interview with Bloomberg News.

 

He also argued that China is depreciating its currency in response to the recent slowdown in economic growth. “They are trying to compensate for the lack of business by dropping the currency, it’s like playing on a rough grass field” Trump said.

 

The statement was repeated in an interview with Reuters last week, saying that China is manipulating the exchange rate. Trump ‘s claims, without such explanation or evidence, conflict with the administration’ s findings, Bloomberg said. The US Treasury Department did not designate China and the European Union as “currency manipulation bureau” in the April half-year exchange rate report.

 

Aug 31, 2018

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