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US President Donald Trump said the latest decline in the yuan is “called ‘currency manipulation”’ and indicated he’d like the Federal Reserve to act to counter the Chinese action.
“China dropped the price of their currency to an almost a historic low,” Trump tweeted on Monday. “It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!”
Trump’s comments come after China responded to the president’s threat to raise tariffs on $300 billion of imports from the Asian nation, letting the yuan tumble to the weakest level in more than a decade and asking state-owned companies to suspend imports of U.S. agricultural products.
China dropped the price of their currency to an almost a historic low. It’s called “currency manipulation.” Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!
— Donald J. Trump (@realDonaldTrump) August 5, 2019
