U.S. Unlikely to Tag China Currency Manipulator, Schwarzman Says
- Trump threatened in election to label China an FX manipulator
- Treasury report may be latest softening of harsh talk on trade
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A top outside adviser to President Donald Trump said the U.S. probably won’t name China a currency manipulator in a report due this month, a move that would break a key campaign promise and another sign of capitulation on the administration’s tough trade talk.
“I would doubt that would happen,” Stephen Schwarzman, chairman of Blackstone Group, told Bloomberg Television in an interview, when asked about China being designated in the Treasury Department’s next foreign-exchange report. Schwarzman chairs the president’s strategy and policy forum, a panel of business leaders that includes JPMorgan Chase CEO Jamie Dimon and BlackRock CEO Laurence Fink.