Amid an ongoing trade dispute between the U.S. and China, President Donald Trump accused the communist country of devaluing its currency in a post on Twitter on Monday.
Trump repeatedly accused China of currency manipulation during his campaign for president and included Russia in his claim in his tweet.
“Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!” Trump tweeted.
The tweet from Trump comes even though his administration has repeatedly refused to officially label China a currency manipulator.
In a report released just three days ago, the Treasury Department said, “No trading partner was found to have met the legislative standards for currency manipulation during the current reporting period.”
The Treasury noted that China remains on a “monitoring list” of major trading partners that merit close attention to their currency practices.
Germany, Japan, Korea, and Switzerland also remain on the “monitoring list,” while India was added in the latest report.
Trump’s tweet reflects the latest step in a trade dispute between the U.S. and China that has seen the world’s two largest economies trade tit-for-tat tariff threats in recent weeks.
(Photo: Michael Vadon)