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Trump: China not a currency manipulator, trade deficit OK in exchange for help on North Korea

The U.S. will not label China a currency manipulator, President Donald Trump said Wednesday, adding that he would accept a lesser trade deal with China in exchange for their help reining in North Korea.

In an expansive interview with The Wall Street Journal, Trump backed away from his vow on the campaign trail to punish China for manipulating the yuan. “They’re not currency manipulators,” Trump said, noting that they haven’t been artificially weakening the yuan for months, and that taking action against China could hurt efforts to defuse the North Korean nuclear situation. The “currency manipulator” label can trigger investigations and lead to tariffs and trade sanctions.

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