The Trump administration formally removed China’s designation as a currency manipulator just ahead of the signing of the phase one trade agreement last week. Coalition for a Prosperous America CEO Michael Stumo says currency manipulation is still a problem that needs addressing.
He says China’s been manipulating their currency for a long time which has created depressed agricultural markets for the U.S. and also hurt America’s manufacturing industry.
Stumo says the Trump administration needs to be tough with China on issues like currency manipulation and adhering to world trade rules.
He says keeping the tariffs on China until the phase two trade deal is completed makes sense and that the earlier tariffs compelled China to come to the negotiating table.
