Trump Attacks China’s Currency

In a tirade on Twitter, US President-elect Donald Trump criticized China for its monetary policy and its operations to ascertain military prowess in the South China Sea. “Did China ask us if it was OK to devalue their currency (making it hard for our companies to compete), heavily tax our products going into their country (the US doesn’t tax them) or to build a massive military complex in the middle of the South China Sea? I don’t think so!” the billionaire politician said on Twitter Sunday night. Trump Attacks China's Currency It was the second Trump action within two days that irked Beijing. In a congratulatory phone call Saturday, Trump spoke to Taiwan’s President. China lodged a complaint with the US Government in protest against Trump’s direct contact with Taiwan, a self-ruled island China considers part of its territory. It was the first time a US president or a president-elect has spoken to Taiwan’s leader since the United States established diplomatic ties with China in 1979. Chinese Foreign Affairs Ministry did not comment specifically on the latest tweets. China’s currency policy and ownership claims on land around islands and reefs in the South China Sea have long been a point of friction between Beijing and Washington. US says the yuan devaluation unfairly favours Chinese exporters. The US currently imposes tariffs on some Chinese imports, such as steel and tires. During campaign Trump had threatened to impose heavy tariff on Chinese goods. by RTT Staff Writer

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Updated: 07/06/2017 — 1:53 AM

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