(Yicai Global) April 12 – US President Donald Trump is not expected to list China as a currency manipulator on the contrary to his presidential campaign promises, but he may instead focus domestic healthcare reform bill again, suggested a top economic advisor to Trump.
The Trump administration will decide whether China is an exchange rate manipulator in a report to be released mid-April. Speaking to Bloomberg, Stephen Allen Schwarzman, one of Trump's top economic advisers and chairman of the Blackstone Group, disagreed, saying, "I would doubt that would happen."
Trump will adopt "a much more deliberate, logical approach [on tax reform] than trying to pass health care in 17 days," he noted, indicating the Administration's priorities for the next few weeks. China came up on the agenda when Schwarzman briefed Trump and his five cabinet members yesterday, he added.
He once observed that the rise of China as an economic and military power will remain the most important issue for foreign policymakers in the next 50 years and even beyond. The multi-billionaire started investing in China a decade ago, and launched the Schwarzman scholarship program, similar to the Rhodes scholarships, at Tsinghua University in 2013. China's sovereign wealth fund holds a five percent stake in his Blackstone Group.
President Trump met with his Chinese counterpart in his Florida resort last week. Schwarzman confirmed that the two presidents had "a very good meeting."
Before last year's November 8 US presidential election, Trump stated in his "Contract with the American Voter" that he would instruct the US Secretary of the Treasury to label China a currency manipulator.