Online Broadband Guide
Online Broadband Guide


Trump admin. declines to brand China a currency manipulator

To Garrett, branding China as a currency manipulator is one of several misleading observations about Chinese economy by Americans, along with the hype about the slowdown of Chinese economy and the overemphasis on the US trade deficit with China.

Eric Trump said the U.S. president "will do what it takes" to ensure the safety of the USA and the world.

During the 2016 campaign, the then-Republican presidential nominee often said that China was manipulating its currency to boost exports, a policy that cost American manufacturing jobs.

Treasury finds that six major trading partners warrant being placed on the Monitoring List for special attention: "China, Germany, Japan, Korea, Switzerland and Taiwan", it said.

The report uses three criteria - a significant bilateral trade surplus with the U.S.; a material current-account surplus; and involvement in persistent one-sided intervention in the foreign-exchange market - to determine whether a trading partner is to be named a currency manipulator.

China and Germany are not manipulating the value of their currencies to gain an unfair trade advantage, but both should do more to reduce their large trade surpluses with the United States, the Treasury Department said Friday.

- Reuters picBEIJING, April 15 ― Asian countries escaped the currency manipulator label in the latest US Treasury report, but remain wary of possible trade friction as President Donald Trump maintains his administration will seek to address trade imbalances.

North Korea attempted a failed missile test over the weekend, and has threatened a preemptive nuclear strike if it believes the US will attack. The Treasury notified Seoul that it was closely monitoring its currency intervention practices. Part of the reason for that is a reality check: China is now stabilizing its currency to protect its value in a way that economists say is helpful to global markets; its efforts to boost exports through a cheaper yuan fell off years before Trump announced his campaign.

In fact, in recent years the Chinese government has intervened to prop up the currency, economists say.

A few minutes after his tweet related to North Korea on Sunday, Trump sent out a second one.

"They're not currency manipulators", he said in an interview.

Trump is the first US president in over 40 years to not release his tax returns. Chinese leaders have sought a US relationship based on the two powers respecting each other's spheres of influence and not intervening in one another's internal affairs. Though Russia critics welcomed Trump's newly hardened tone, there's less enthusiasm from America's allies in Asia, who fear the USA could overlook China's more aggressive posture toward its neighbors.

"Well they, I think they're grand champions at manipulation of currency".

During the campaign, Trump had repeatedly called China a manipulator, saying, "They're killing us" by devaluing their currency to make it harder for American companies to compete against Chinese products.

follow

editors' picks

April 16, 2017
Is Bannon in peril? Trump comments worry his populist base
Trump ordered Bannon to sit down with his other top adviser, Trump's son-in-law Jared Kushner, to bury the ideological hatchet. As for Bannon, before joining the campaign last summer as its chief executive officer, he was informally advising Trump .

April 16, 2017
Kashmiri Youth Attack CRPF Jawans On Poll Duty, Video Goes Viral
However, questions were raised on Friday when a video of a man tied to an army jeep did the rounds on social media. He was referring to the video that has also gone viral in which a group of youth are manhandling the CRPF jawan.

April 15, 2017
Vincent Kompany targets Champions League qualification and FA Cup final place
We have a slightly superior goal-difference than both, and there's no guarantees they'll pick up consecutive wins, of course. I don't know if the way we played was lovely but the most important thing is to win games.

April 15, 2017
Will he or won't he? Nurkic's return still uncertain
The Golden State Warriors are averaging 115.9 points on 49.5 percent shooting and allowing 104.3 points on 43.5 percent shooting. Portland went 0-4 against the Warriors this season, although the last game in January was just a two-point Golden State win.

April 13, 2017
Tillerson meets Russia's Lavrov after war of words over Syria
Just a few weeks ago, Tillerson's trip was seen as a test of Trump's commitment to developing a better relationship with Moscow. Within minutes, images began appearing on social media depicting victims, many of them children, shivering and gasping for air.

April 13, 2017
Gorsuch heads for confirmation as Senate tears up own rules
Russell Moore, president of the Southern Baptist Ethics & Religious Liberty Commission, called Gorsuch's confirmation "good news". Democrats consistently tried to tie Gorsuch to Trump, suggesting he won't be independent from the president who nominated him.

April 11, 2017
Man dragged off United Airlines flight after overbooking
Anspach, who goes by @JayseDavid on Twitter, wrote: "No one volunteered (to leave), so @United decided to choose for us". When there were not enough volunteers, management reportedly used a computer system to select four passengers at random.

April 11, 2017
Vale SA (ADR) (NYSE:VALE), Wal-Mart Stores Inc (NYSE:WMT)
Deutsche Bank AG reissued a "hold" rating on shares of Wal-Mart Stores in a research report on Wednesday, January 18th. Bernstein Initiates Coverage On the company's stock to Market Perform on 2/07/17 by setting a price target of $75.

April 11, 2017
"Shocked and saddened" wife of Khalid Masood condemns Westminster attack
Basu said he found no evidence of an association with ISIS or al-Qaeda, but added that Masood clearly had "an interest in Jihad". In a statement, the couple's families said Ms Cristea was still in a critical but stable condition in hospital.

April 11, 2017
Japan to extend unilateral sanctions against North Korea
The idea that the U.S. could deprive Pyongyang of its "nuclear deterrent" through sanctions is "the wildest dream", it said. Washington, Seoul and others call the North's space program a cover for its long-range missile development program.