President Donald Trump said Wednesday he will not label China a currency manipulator, and a leading Democrat said that is the wrong approach to dealing with the communist nation.
Senate Minority Leader Chuck Schumer responded to a Wall Street Journal report that signaled Trump may be changing his tune about China in an emailed statement.
"Unfortunately, the president's failure to name China a currency manipulator is symptomatic of a lack of real, tough action on trade against China," Schumer said. "China steals our intellectual property, doesn't let American companies compete in China, and has manipulated their currency causing the loss of millions of jobs."
Trump told the Journal China has not manipulated its currency for months. He also needs China on his side as he tries to deal with the threat posed by North Korea.
"While they're not manipulating their currency at the moment because it doesn't suit their economic needs, make no mistake about it, as soon as the tide turns they will. When the president fails to label them a currency manipulator, he gives them a green light to steal our jobs and wealth time and time again," Schumer said.
He also said Trump should "be tough on them with trade" if he wants China's help on the North Korean front.
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