|President Donald Trump and Chinese President Xi Jinping walk together after their meetings at Mar-a-Lago, April 7, 2017, in Palm Beach, Florida. Rowing back on his election campaign promise to label China a currency manipulator, Trump said his administration would not do that. (Alex Brandon / AP)|
WASHINGTON – U.S. President Donald Trump said on Wednesday that his administration won't label China as a currency manipulator.
They (China) are not currency manipulatorsDonald Trump, US President
In an interview with the Wall Street Journal on Wednesday, Trump said "they (China) are not currency manipulators," according to the report.
The US President made the comments days after his meeting with his Chinese counterpart in Florida.
Trump during the election campaign had accused China of manipulating its currency to gain from exports, while many economists have argued that the Chinese currency, RMB, has been at equilibrium level in recent years.
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The International Monetary Fund declared the RMB as no longer undervalued in 2015.
In the interview, Trump again complained that the U.S. dollar is too strong.
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"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me," Trump said. “But that's hurting -- that will hurt ultimately.”