US and China have reached a rare agreement with Trump saying it will not accuse Beijing of manipulating the currency and expressing confidence that the Chinese President will help in the North Korean dossier.
The US and China have apparently reached a rare agreement on Wednesday with Donald Trump saying he will not accuse Beijing of manipulating the currency and expressing confidence that the Chinese president will help in the North Korean dossier.
Another result of the diplomatic discussion was China’s surprising abstention in the vote on a United Nations Security Council resolution on a chemical weapons attack on Syria that was vetoed by the Russian Federation.
During a White House press conference and an interview with a newspaper, Trump praised his relationship with Xi Jinping during a summit last week. It seems to have alleviated tensions stemming from trade relations and the US will to prevent North Korea from developing a nuclear missile capable of reaching the United States. “I think he will help us with North Korea,” Trump said of President Xi.
And in what is one of the most significant reversals of his presidency, Trump has stepped down from the election pledge to declare China as a currency manipulator, which could lead to high tariffs on imports from China.
This accusation was the basis of Trump’s argument about job losses in the US, which led him to say that an undervalued currency was promoting Chinese exports, thanks to artificially low prices at the expense of US industry and workers. “They are not currency manipulators,” Trump told The Wall Street Journal earlier Wednesday, adding that the country has not been manipulating its currency for months.