February 21, 2017

During his presidential campaign, Donald Trump threatened to label China a currency manipulator and promised to impose a 45% tariff to undo its unfair competition. As with other policies, his position has evolved and the press is now reporting that the Trump administration is considering designating “currency manipulation” as an unfair subsidy when employed by any country. We believe that by pursuing such a policy the U.S. is going down the wrong economic path and it reaffirms our views regarding President Trump’s mercantilist trade views.

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