President Donald Trump on Wednesday said he will not label China a currency manipulator after repeatedly promising to do so throughout his campaign.
Trump’s new comments came in an interview with The Wall Street Journal on Wednesday. The president told the paper, “They’re not currency manipulators,” adding that he changed his mind because China has not been manipulating currency for months and that making good on his campaign promise now could jeopardize talks with China about tackling the threat of North Korea.
Donald Trump promised over and over again during his campaign that he would label China a currency manipulator and do so on his first day in office. For example, during an economic speech delivered in Monessen, Pennsylvania in June 2016, Trump named this as part of a list of actions he would be taking as president to improve the economy.
“I’m going to instruct my treasury secretary to label China a currency manipulator, which should have been done years ago,” Trump said during his speech.
This was not the first time Trump made this pledge, though. In an op-ed for The Wall Street Journal published in November 2015, Trump promised he would label China a currency manipulator on his very first day in office.
More recently, Trump referred to China as a currency manipulator in an interview with The Financial Times on April 2nd.
“You know when you talk about, when you talk about currency manipulation, when you talk about devaluations, they are world champions,” Trump said of China. “And our country hasn’t had a clue, they haven’t had a clue. The past administration hasn’t had and many administrations — I don’t want to say only Obama; this has gone on for many years — they haven’t had a clue. But I do.”