(Bloomberg) -- President Donald Trump said the latest decline in the yuan is “called ‘currency manipulation”’ and indicated he’d like the Federal Reserve to act to counter the Chinese action.“China dropped the price of their currency to an almost a historic low,” Trump tweeted Monday. “It’s called ‘currency
-- President Donald Trump said the latest decline in the yuan is “called ‘currency manipulation”’ and indicated he’d like the Federal Reserve to act to counter the Chinese action.
Trump’s comments come after China responded to the president’s threat to raise tariffs on $300 billion of imports from the Asian nation, letting the yuan tumble to the weakest level in more than a decade and asking state-owned companies to suspend imports of U.S. agricultural products. Trump said last month he hadn’t ruled out taking action to weaken the U.S. currency, though White House economic adviser Larry Kudlow said Friday that the administration would not undertake currency intervention.
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