Trump trade adviser warns against currency manipulation as China mulls weaker yuan
Peter Navarro, Trump's incoming senior counselor for trade and manufacturing, said the White House would not interfere with the Treasury Department's biannual review looking in to whether foreign trade partners are manipulating their currencies.
He added, however: «I don't believe the Trump Treasury Department would welcome Chinese currency manipulation very fondly. The history of China as a currency manipulator is well-known.»
Trump's administration labeled China a currency manipulator in 2019, the first time the U.S. government made that determination since 1994. The determination was revoked the subsequent year.
The move is more symbolic than substantive, but would nonetheless signal that Trump is willing to engage in an unprecedented trade war with the world's No. 2 economy as he frequently threatened to do on the campaign trail.
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