President Donald Trump explained the decision to not label China a currency manipulator, which reversed a promise he made during the election campaign, as a function of receiving Beijing’s help in reining in North Korea.
“Why would I call China a currency manipulator when they are working with us on the North Korean problem? We will see what happens!” Trump said in a tweet early Sunday to his 28 million followers.
The comment was Trump’s first in response to a failed missile test by North Korea overnight. Spending the weekend at his Florida estate, Trump also wished a “Happy Easter to everyone!”
The U.S. on Friday stopped short of branding China a currency manipulator in an annual foreign-currency report from the Treasury while urging the world’s second-largest economy to let the yuan rise with market forces and embrace more trade.
To contact the reporter on this story: Ros Krasny in Washington at rkrasny1@bloomberg.net.
To contact the editors responsible for this story: Bernard Kohn at bkohn2@bloomberg.net, Steve Geimann
