President Donald Trump is suggesting the United States start manipulating its currency to match the “big currency manipulation game” he accuses China and Europe of playing.
“We should match or continue being the dummies who sit back and politely watch as other countries continue to play their games as they have for many years!” Trump tweeted Wednesday.
Countries that manipulate currency sell their own currency and buy foreign money, intending to artificially drive down the value of their own money. The intention is to make their exports cheaper and more competitive on the world market, giving their products an unfair advantage.
Trump constantly accused China of such action during his 2016 presidential campaign.
But since Trump took office, the Treasury Department has found that no country can be labeled a currency manipulator. Eight countries are on the manipulator watch list, including China, Germany, Ireland and Italy.