AAM blasts Trump for flip-flop on China

WASHINGTON — The Alliance for American Manufacturing (AAM) has published a blog post criticizing President Trump for reversing his previously stated intention to identify China as a nation that manipulates the value of its currency for advantage in trade.

Mr. Trump gave an interview to the Wall Street Journal April 12, subsequently quoted in many other publications and news broadcasts, saying among other things that he would not label China as a currency manipulator.

The Treasury Department's semi-annual Report to Congress on International Economic and Exchange Rate Policies will be issued April 15, noted AAM Digital Media Director Elizabeth Brotherton-Bunch in an April 13 blog posting.

"It would be the first real opportunity for the Trump administration to label China a currency manipulator — something that Mr. Trump had pledged to do on his first day in office," Ms. Brotherton-Bunch said.

The AAM, a coalition of major U.S. manufacturers and the United Steelworkers union, has long stated that Chinese currency manipulation is a major cause of the U.S. trade deficit with China.

However, organizations such as S&P Global Ratings have said there is evidence that China abandoned currency manipulation years ago.

Ms. Brotherton-Bunch quoted a tweet from Senate Minority Leader Chuck Schumer, D-N.Y.: "Unfortunately POTUS' failure to name China a currency manipulator is symptomatic of a lack of real, tough action on trade against #China." 

"President Trump isn't the first president to talk tough on China and then fail to deliver on the question of currency, of course," Ms. Brotherton-Bunch wrote.

"Former President Barack Obama had 16 chances to label China a currency manipulator and passed all 16 times."