President Donald Trump was back on Twitter bright and early Easter morning, denying he called out China for manipulating their currency despite the fact that he made that exact charge in late February. It's also hard to say what will happen if the USA renews its efforts to deploy missiles in South Korea that could intercept ICBMs.
The decision not to name China a currency manipulator has marked one of the sharpest major reversals of Trump's young presidency. Trump said in a tweet early yesterday to his 28 million followers.
The US on Friday stopped short of branding China a currency manipulator in a much-awaited annual foreign-currency report from the Treasury Department.
"Well they, I think they're grand champions at manipulation of currency". Instead, it urged the world's second-largest economy to let the yuan rise with market forces and embrace more trade.
The report also criticized Japan for failing to do more to stimulate domestic demand and thereby increase sales of USA and other foreign goods.
North Korea showcases submarine-based missiles for first time at military parade
On Saturday, North Korean leader Kim Jong Un arrived at Pyongyang's main Kim Il Sung Square, named after his grandfather. North Korean women wave and cheer as they look toward their leader Kim Jong Un during a military parade Saturday.
Trump may have been boxed in his campaign promises to go after China on trade and currency, and the reality of needing China's help on regional security problems, said Senator Jack Reed, Democrat of Rhode Island, also on NBC.
Asked what United States policy on China's currency has to do with North Korea, Senator John McCain said "it may be part of the overall relationship" between the U.S. and Beijing.
Since Trump and Xi met, China has reduced coal shipments and threatened the oil trade with North Korea.
US President Trump has said that China is working on the "North Korean problem" with Washington, while Pyongyang states they will be building up its nuclear capacity until the US stops its 'nuclear blackmail'.
Still, despite that reversal, the report said a decade of holding down the renminbi had imposed "significant and long-lasting hardship on American workers and companies" and left China with the largest trade surplus of any country against the United States - $347 billion a year ago. The administration has also put forward a draft proposal on renegotiating the North American Free Trade Agreement with Mexico and Canada that dropped some of the tougher positions Trump took during the campaign.
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