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Donald Trump: China and European Union ‘Manipulating Their Currencies’

A pedestrian walks past a foreign exchange rate board, including the euro (top,L) and the Chinese yuan (bottom, L) in Tokyo on August 13, 2015. Tokyo stocks closed 0.99 percent higher August 13, rallying after the previous day's losses as investors gauged the impact of China devaluing its currency for …
KAZUHIRO NOGI/AFP/Getty

President Donald Trump called out China and the European Union on Friday for manipulating their currencies.

“China, the European Union and others have been manipulating their currencies and interest rates lower,” Trump wrote on Twitter.

The president repeated his criticism of the Federal Reserve for raising interest rates while the U.S. dollar continued to get stronger. A weaker US dollar leads to higher exports.

“The United States should not be penalized because we are doing so well,” he wrote. “Tightening now hurts all that we have done.”

Trump suggested that the Federal Reserve wait to raise rates, allowing the United States economy to grow stronger.

“The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals,” he wrote.

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