US President Donald Trump: China not a currency manipulator

The United States has refused to label China a currency manipulator inspite of President Donald Trump's pledge during the election campaign that he would do so upon taking office. Instead, the first currency review of the Trump administration singled out China and five other countries asneeding to be monitored for their currency practices.

The countries -- China, Japan, Germany, South Korea, Taiwan and Switzerland -- were the same six named in the last currency report issued by the Obama administration in October.

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In an interview on Wednesday, Trump had indicated that he was backing away from his campaign pledge because he felt China hadn't been manipulating its currency in recent months and because labelling it as such now could jeopardise Beijing's cooperation in confronting North Korea.