In accepting the Republican nomination last summer, Mr. Trump called China the “greatest currency manipulators ever!”
Upon announcing his candidacy in 2015, Mr. Trump said
that China’s currency practices were making it impossible for American companies to compete and declared, “They’re killing us.”
In the Trump campaign’s “contract” with American voters he promised, “I will direct the Secretary
of the Treasury to label China a currency manipulator” in the first 100 days of his presidency.
Treasury Says China Isn’t a Currency Meddler, After Trump Reversal -
By ALAN RAPPEPORTAPRIL 14, 2017
WASHINGTON — The Treasury Department officially declined on Friday to label China a currency
manipulator, breaking one of President Trump’s most prominent campaign promises.
Mr. Trump signaled this week in an interview that he was reversing his position,
and he has taken a less confrontational stance toward China since meeting with President Xi Jinping this month.
In its exchange rate report to Congress, the Treasury said
that in spite of China’s large trade surplus with the United States, it was not acting improperly to depress the value of its currency.
