Speed Reads

a convenient change of heart

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."

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."