News Worms
News Worms


Trump defends about-face on labeling China a currency manipulator

Trump defends about-face on labeling China a currency manipulator

The decision was expected after President Donald Trump this week reversed himself and said China was not a currency manipulator, according to AFP.

Mr. Trump is working to enlist China's help to quell North Korea's nuclear power, but has said the USA will handle North Korea alone if China doesn't intervene. "At the right time everyone will come to their senses & there will be lasting peace!" he said on Twitter.

The semi-annual US Treasury currency report did, however, keep China on a currency "monitoring list" despite a lower global current account surplus, citing China's unusually large, bilateral trade surplus with the United States.

Trump's comments came following a meeting between US Secretary of State Rex Tillerson and Russian President Vladimir Putin. But the recent US missile strike on a Syrian airbase in response to an apparent chemical attack, and the use of the "mother of all bombs" to destroy ISIS tunnels in Afghanistan seem to veer from that focus. He added ominously, "The world's two foremost nuclear powers can not have this kind of relationship".

"We strongly believe that there is no contradiction between a strong North Atlantic Treaty Organisation, credible deterrence on defense, and political dialogue with Russian Federation..."

For Trump, it's a dramatic reversal from his repeated campaign pledges to forge a new U.S.

As the Republican presidential nominee, Trump praised Putin repeatedly as a strong, "very smart" leader. "I would like to get along with everyone", Trump continued.

It was the first meeting for Trump and Stoltenberg since Trump's election. It was Trump's second major concession to Xi, after backing away from a threat to abandon America's "One China" policy that sees Taiwan as part of China. Beyond the expanding ledger of disagreements, Trump has limited ability to offer Moscow concessions at a time USA investigators are examining if Russian agents and Trump campaign associates colluded to help the billionaire businessman win last year's presidential election.

"According to various estimates, there are about 20,000 foreign militants fighting in Syria, including almost 10,000 of them are from the CIS countries", Putin said.

But he added, "I strongly believe that the only way to deter Russian Federation is to be strong".

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