In World Economy News 12/12/2016
U.S. President-elect Donald Trump on Friday said that China and other countries often devalue their currencies as the U.S. economy improves, vowing to combat currency manipulation and the dumping of foreign products into U.S. markets below cost.
“We’ll renegotiate our trade deals, stop the product dumping and the currency manipulation which is a disaster for our country,” Trump said at a rally in Baton Rouge, Louisiana. “Every time we get going, China and others, they just knock the hell out of the value of their currency and we have to go back and back, and it just doesn’t work, folks.”
Source: Reuters (Reporting by David Lawder; Editing by Jonathan Oatis)
