Trump Says Not Labeling China Currency Manipulator 'Inconceivable'

Thursday, 29 Dec 2011 04:14 AM

By Hiram Reisner

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Donald Trump says the Obama administration’s decision not to call China out as a currency manipulator is “inconceivable” because “all you have to do is look at the numbers.” The real estate mogul also told Fox News Wednesday President Barack Obama does not command Chinese respect.

Earlier this week, the Obama administration declined to label China a currency manipulator after seeing recent increases in the value of the yuan compared to the dollar.

“Well, it is inconceivable – everyone knows they are a currency manipulator and all you have to do is look at the numbers – and they have been doing it for years,” Trump said. “We have an administration that is not respected by China – they are laughing at us. I deal with the Chinese all the time . . . they tell me they cannot believe what they are getting away with.”
 
Trump said the Chinese make it impossible for U.S. companies to remain competitive because the currency manipulation is so severe.

“They take our money, and then they loan it back to us and we pay them interest and we have a $16 trillion deficit,” he said. “The whole thing is absolutely insane. And for this administration to say they don`t manipulate their currency is . . . really a lie to the American people.”

The real estate billionaire said if he was president, he would put a 25 percent tax on all goods coming in from China, although a threat to do so would probably be enough for the Chinese to back off.

“That would do two things: Number one, we would start making our products in Alabama, and Iowa, and California and lots of other places, and also would take in a hell of a lot of money,” Trump said. “So, somebody will say: ‘Oh, you will stop free trade.’ This is no free trade – this is stupid trade – this is stupid on our behalf.

“And we have to stop it; we have to stop it soon. It is destroying our country,” he said. “It is . . . not only China. If you look at other countries, everyone is out-dealing the United States. But China is the number-one abuser.”

Switching gears, Trump was asked what he thought of Iran’s threat to cut off oil shipments through the Strait of Hormuz and whether the United States is getting tough enough in dealing with Tehran.

“No, I think we are not getting tough. I think they don`t respect us, they don`t respect our leaders,” Trump said. “And I am seeing things today that are going against this country. It is almost like we are just not a respected nation any longer. People are doing things, countries are doing things, their leaders are doing and saying things that they never would have done before. We are just not a respected, really first-rate place anymore.”

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