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Reuters: Trump says Russia, China playing 'currency devaluation game'
WASHINGTON (Reuters) - U.S. President Donald Trump accused Russia and China on Monday of devaluing their currencies while the United States raises interest rates.
“Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!” Trump said in a Twitter post.
Trump’s tweet referred to what he sees as unfair trading advantages: if a country’s currency is artificially low, its exports are more competitive. Higher U.S. interest rates would generally increase the value of the dollar, making U.S. exports more expensive.
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WNU Editor: Because of oil, the Russian ruble and Chinese yuan are becoming more intertwined. As to currency devaluations .... this has always been a tactic that governments enjoy using to increase exports, and I would not be surprised if the Chinese and Russians are speculating on doing just that.
