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Trump says Russia, China playing ‘currency devaluation game’

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U.S. President Donald Trump accused Russia and China on Monday of devaluing their currencies while the United States raises interest rates.

“Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!” Trump said in a Twitter post.

Trump’s tweet referred to what he sees as unfair trading advantages: If a country’s currency is artificially low, its exports are more competitive. Higher U.S. interest rates would generally increase the value of the dollar, making U.S. exports more expensive.

 Since Trump took office in January 2017, the dollar has weakened substantially against most currencies, including the Chinese yuan and, until the United States imposed sanctions on Russia in the last few weeks, the ruble.
 
Against the yuan, the dollar has fallen by 8.6 percent since Jan. 20, 2017, while it has appreciated 4.5 percent against the ruble. Until the United States announced sanctions on Russian oligarchs earlier this month, however, the dollar had weakened by nearly 4 percent against the Russian currency. That gain was entirely erased by a two-day drop of 8.4 percent in the ruble on April 9 and 10.
More widely, the U.S. dollar index, which measures the greenback’s value against a basket of major trading partner currencies, has declined by 11.2 percent since Trump became president. The U.S. Treasury, in a semiannual report on Friday, again refrained from naming any major trading partners as currency manipulators. The report came as the Trump administration pursues potential tariffs, negotiations and other restrictions to try to cut a massive trade deficit with China.

The report did not mention Trump’s recent threats to impose billions of dollars worth of tariffs on Chinese goods over Beijing’s intellectual property practices, or pending Treasury restrictions on Chinese investment in the United States.

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 White House spokeswoman Sarah Sanders later told reporters aboard Air Force One on a trip by the president to Miami that China is on a U.S. Treasury Department watch list for being potentially labeled a currency manipulator.
Reporting by Doina Chiacu in Washington, Dan Burns in New York and James Oliphant aboard Air Force One; writing by Eric Walsh; editing by Chizu Nomiyama, Frances Kerry and Jonathan Oatis


Report typos and corrections to: [email protected]. Send news tips to: [email protected].
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Cop says Alexandria Ocasio-Cortez should be shot following Trump’s racist targeting of The Squad

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Following racist attacks on members of The Squad by President Donald Trump and his supporters, a police officer in Louisiana reportedly said that one of the congresswomen of color should be shot.

Trump has been lashing out at the four first-term congresswomen, who include Representatives Alexandria Ocasio-Cortez (D-NY), Ilhan Omar (D-MN), Ayanna Pressley (D-MA), and Rashida Tlaib (D-MI).

"A Gretna police officer posted a comment on his Facebook page this past week calling U.S. Rep. Alexandria Ocasio-Cortez a 'vile idiot' who 'needs a round, and I don't mean the kind she used to serve,'" NOLA reported Saturday.

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Internet piles on ABC reporter for lavishing praise on Trump for allowing press to ask questions

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ABC News reporter Kyra Phillips on Saturday heaped praise on President Donald Trump for his treatment of the press.

Despite the White House no longer holding daily press briefings, Phillips praised the "access" she receives from the administration.

"No matter what your politics are, I have to say that I appreciate the access ?Trump? gives us on a regular basis and the ability to ask any question," she said.

She tagged Stephanie Grisham in her tweet, who is Trump's latest press secretary. She also tagged her husband, John Roberts, who does not work in the White House, but works for Fox News.

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‘Trump wants to start a race war’: Ex-advisor alleges his campaign planned ‘Send her Back’ chants

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President Donald Trump is attempting to start a race war in America, a long-time advisor declared on MSNBC on Saturday evening.

Omarosa Manigault Newman was interviewed by Donny Deutsch on "Saturday Night Politics."

"You said could it happen here? It is happening here," Newman told Deutsch.

"As a woman of color watching him attack those four women, it made it very clear that Donald Trump is a clear and present danger to our democracy," she said.

"And everyone has been kind of tiptoeing what this actually is. Donald Trump wants to start a race war in this country and it started at that rally — it started with the tweets," she said.

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