Trump has accused China and Russian Federation of artificial currency devaluation

U.S. President Donald Trump conducts a meeting with state and local officials to unveil his administration's long-awaited infrastructure plan in the State Dining Room at the White House

Russia's ruble plunged last week, in part or all thanks to sanctions the USA slapped on that country.

"They've used a lot of their reserves to actually support the currency".

"Russia and China are playing the game, called devaluation of the currency, while the United States continues to raise its interest rates".

Trump's Twitter attack is the latest in a simmering trade battle between China and the US.

"So it seems like the information being released by the USA side is a bit chaotic", she told a daily news briefing.

President Donald Trump attacked China and Russian Federation for changes in their currency in a tweet Monday, in a peculiar attack that came despite the Treasury Department naming neither as currency manipulators.

The tweet comes a few days after a report from the Treasury Department that did not name either country as a currency manipulator. Higher US interest rates would generally increase the value of the US dollar, making US exports more expensive. Compared to the yuan, the U.S. currency declined by 8.6% since early 2017 and rose 4.5% against the ruble. Until the U.S. announced sanctions on Russian oligarchs earlier this month, however, the USA dollar had weakened by almost 4 per cent against the Russian currency.

More widely, the USA dollar index, which measures the greenback's value against a basket of major trading partner currencies, has declined by 11.2 per cent since Trump became president.

Federal Treasury Department in Friday released semi-annual report is again called one of the biggest trading partners of the country of the currency manipulators, continuing efforts to reduce the huge trade deficit with China through negotiation and the imposition of duties. The report also does not mention the head of state's intentions to impose billions of dollars on Chinese goods, or possible ministry restrictions on Chinese investment in the United States.



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