President Trump just said the Chinese are 'not currency manipulators.' Last week he called them the 'world champion' of currency manipulation.
In an interview with The Wall Street Journal on Wednesday, President Trump declared the U.S. dollar is "getting too strong." "[P]artially that's my fault because people have confidence in me," Trump said. "But that's hurting — that will hurt ultimately."
He continued: "Look, there's some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good." The president also said he'd rather the Federal Reserve "keep interest rates low," The Wall Street Journal reported.
In the same interview, Trump revealed that his administration would not label China a "currency manipulator" in an upcoming report, walking back a common refrain from his presidential campaign. Just last week, Trump deemed China the "world champion" of currency manipulation. On Wednesday, he said the Chinese are "not currency manipulators."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The Wall Street Journal reported Trump changed his mind on China because the country "hasn't been manipulating its currency for months and because [labeling China a currency manipulator] now could jeopardize his talks with Beijing on confronting the threat of North Korea."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Today's political cartoons - January 11, 2025
Cartoons Saturday's cartoons - a welcome kiss, a kiss goodbye, and more
By The Week US Published
-
5 evergreen cartoons about Trump annexing Greenland
Cartoons Artists take on changing priorities, taking a putt, and more
By The Week US Published
-
The New Jersey 'UFO' drone scare
In the Spotlight Reports of mysterious low-flying aircraft provoked outlandish theories, but old-fashioned hysteria appears to have been to blame
By The Week UK Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published