In a semiannual report to the U.S. Congress published late Friday, the Treasury Department declared that no major trading partner of the U.S., including China, was manipulating its currency.
The other countries on the list are China, Japan, South Korea, Germany and Switzerland, with no country being identified as manipulating its exchange rate to obtain unfair trading advantages.
Mr Trump's closest adviser, Stephen Bannon, said there would be "war" with China in the near future, and his Secretary of State Rex Tillerson condemned China for its "illegal" artificial island-building in the disputed territory of the South China Sea, but Mr Trump appears to have watered down his stance to ensure China is on the same side as the USA when it comes to tackling North Korea.
"They're not currency manipulators", Trump told the Wall Street Journal, adding that China hasn't been manipulating its currency for months.
The Trump administration has officially declined to brand China a currency manipulator, in another major U-turn for the USA president, who had repeatedly pledged during his campaign to do so soon after taking office.
Although the report did not signal a major shift in Washington's own currency policy, it is likely Trump will try to use the issue as a bargaining chip in negotiations with other countries.
The most important result of the meeting, regardless of the announcement that the U.S. Prtesident will visit China this year, lies in the fact that the parts convened a plan of 100 days to discuss their differences in economic issues, what was described by U.S. Secretary of Commerce, Wilbur Ross as a very big change in the rhythm of discussions.
The report showed the high priority the administration puts on addressing trade imbalances and said it would be "scrutinizing China's trade and currency practices very closely".
"China continues to pursue a wide array of policies that limit market access for imported goods and services, and maintains a restrictive investment regime which adversely affects foreign investors", it said. "But depending on how China will react, Trump could lose his patience", said Makoto Noji, senior strategist at SMBC Nikko Securities. China has burned through nearly $1 trillion of its foreign reserves, or about a quarter of the total stockpile, since mid-2014 to help support the currency.
LEADING OFF: Sale makes Boston debut; Bartolo back in Citi
This little statistic (little considering its sample size) goes to show one major positive for the Mets: Very few baserunners. That is the condition that affected Harvey last summer, causing numbness in his pitching hand and undermining his results.
In a statement, the Treasury said the findings and recommendations of the Report are meant to combat potentially unfair currency practices and support the growth of free and fair trade.
It's also hard to say what will happen if the United States renews its efforts to deploy missiles in South Korea that could intercept ICBMs.
He anticipated that the meeting would be a "very hard one" because of China's large trade deficit and its impact on USA jobs.
In the previous report, Taiwan met both criteria.
The Treasury said Germany has a "responsibility" to help balance global demand and trade flows.
Trump dismissed America's Russian Federation hawks as "stupid people or fools" and predicted under his leadership that the Cold War foes would "work together to solve some of the many great and pressing problems and issues of the world". "Pursuant to the 2015 Act, Treasury has found in this report that no major trading partner met the criteria for the current reporting period", it stated.
The provisions of the act provide the United States government with monitoring tools to address "unfair" currency practices.
Market analysts said that the central bank has not been jumping into the trading floor during late sessions to keep the NT dollar down - as it had done regularly in the past - which is why the Treasury Department did not accuse Taiwan of persistent one-sided intervention.
Comments