Its not necessarily Barry’s doing, it smells more like Chinese protectionism in the Chinese government’s efforts to get the Chinese people to move towards internal consumerism.
This one, we can lay at the Obama administration’s feet.
This is a direct response to the “stimulus” bill passed on Obama’s watch that had a “Buy American” clause in it.
Then came Timmy using the words “currency manipulation” in public (which while true, are loaded words and are like waving a red flag in front of a bull). Then we had the Fed doing a big whackin’ load of QE.
The PRC has been trying to make their position known now for a couple of months - they view QE with some alarm.
So now they have pulled out a big stick to whack over our heads.
It’s an effort to keep the masses employed and not rioting in the streets.