TRUMP’S CHINA CURRENCY SHIFT BREAKS A KEY PART OF HIS CONTRACT WITH THE AMERICAN VOTER

  • Candidate Trump’s “Contract with the American Voter” promised that labelling China a currency manipulator would be done on Day One.
  • Trump called the Chinese “champions” of currency manipulation as recently as early April.
  • On Wednesday, the president conceded that China does not manipulate the yuan.

Click here to watch VIDEO

In a significant change of tone, President Donald Trump this week reversed his long-standing call to label China a currency manipulator.

Here’s how his comments have evolved over the last six months:

As a candidate before the Nov. 8, 2016, election

“Contract with the American Voter”

“On the first day of my term of office, my administration will immediately pursue the following … direct the Secretary of the Treasury to label China a currency manipulator.”

1492100128_fullcurrencytrumpcontract

 

Dec. 4, 2016

Trump tweets imply that China has devalued its currency to make it harder for U.S. companies to compete.

Did China ask us if it was OK to devalue their currency (making it hard for our companies to compete), heavily tax our products going into..

their country (the U.S. doesn’t tax them) or to build a massive military complex in the middle of the South China Sea? I don’t think so!

Go to CNBC to read more.

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