Ryan Blasts Trump Shift on China’s Currency
YOUNGSTOWN, Ohio – U.S. Rep. Tim Ryan blasted President Donald Trump for his reversal on his campaign rhetoric regarding China’s manipulation of its currency. In a statement distributed Thursday, Ryan, D-13 Ohio, called Trump’s “about-face” on China “yet another example of his continued inability to advance a consistent trade policy.”
Trump, who met with Chinese President Xi Jinping last week, said he would offer a sweeter trade deal to China if it handled North Korea. This week, he told the Wall Street Journal that China no longer manipulates its currency.
The apparent switch on China represents Trump’s latest reversal from his past rhetoric. This week he praised NATO after previously declaring the alliance “obsolete” and shifted his stance on Syria.
While China might not be manipulating its currency now, that’s no excuse for Trump to let China off the hook, Ryan said.
On the campaign trail, Trump “loved” telling Americans how tough he would be on China, and many of Ryan’s constituents believed him, the congressman said. Since taking office, the president “hasn’t taken a single action to stand up” to China, he said
“China spent decades manipulating their currency, refusing to meet World Trade Organization obligations, stealing U.S. intellectual property, giving illegal subsidies, and engaging in predatory trade action,” Ryan said. “There are still many trade issues we have to press China on, and we need to have the tools and ability to handle currency manipulation should it arise again.”
The president’s weakness on U.S.-China relations and lack of a coherent trade policy will result in more job losses in communities like the Mahoning Valley who can’t compete fairly with Chinese companies that do not have to abide by U.S. environmental and labor standards, he added.
Copyright 2022 The Business Journal, Youngstown, Ohio.