(Yicai Global) April 13 -- US President Donald Trump said that his Administration will not label China a currency manipulator in a report due soon. "They (China) are not currency manipulators," Trump said in an interview with Wall Street Journal yesterday, Xinhua News Agency reported.
However, the US president complained that the dollar is too strong. "I think our dollar is getting too strong," Trump said. He also stressed that he preferred the US Federal reserve keep interest rates relatively low.
One of Trump's top economic advisers, Stephen Allen Schwarzman, indicated early this week that the Trump administration would not label China a currency manipulator.
Many US media outlets commented that both remarks by the US president are in contradiction with his presidential election promises.
During his presidential election campaign, Trump accused China of manipulating its currency to benefit increased exports. However, many economists argue that the Chinese currency, the yuan, has been at equilibrium level in recent years.
China's President Xi Jinping met with Donald Trump in his Florida resort last week for comprehensive bilateral talks, after which both sides made conciliatory statements, possibly averting a much-talked-about trade war between the world's two largest economies.