Business

Trump says U.S. should start manipulating the dollar

AP

President Donald Trump is accusing China and Europe of playing a “big currency manipulation game.” He says the United States should match that effort, a move that directly contradicts official U.S. policy not to manipulate the dollar’s value to gain trade advantages.

In a tweet, the president says if America doesn’t act, the country will continue “being the dummies who sit back and politely watch as other countries continue to play their games — as they have for so many years.”

Trump’s own Treasury Department in May found that no country meets the criteria of being labeled a currency manipulator, although the report did put China and eight other countries on a watch list.

A country manipulates its currency when it drives down the value to make its exports cheaper.