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Trump Says He Is Open To Lifting Russia Sanctions, Won't Label China Currency Manipulator.
zero hedge ^ | 15JAN17 | Tyler Durden

Posted on 01/14/2017 4:25:05 PM PST by vannrox

In his first full interview of the new year, President-elect Donald Trump explains his approach to foreign policy from a "realpolitik" lens, when he told the WSJ overnight that relations with China and Russia will depend on the degree to which the two countries cooperate with U.S. economic, diplomatic and military priorities. 

The interview comes one day after China's incensed press rebuked a statement by Rex Tillerson during his confirmation hearing, when he said that China will not be granted access to the disputed South China Sea islands, responding that "such remarks are not worth taking seriously because they are a mish-mash of naivety, shortsightedness, worn-out prejudices, and unrealistic political fantasies" and  "would set a course for devastating confrontation between China and the US."
Trump says he would keep intact sanctions against Russia imposed by the Obama administration “at least for a period of time”; says he is prepared to meet Russian President Vladimir Putin after he is sworn in

Assuing further media vitriol, Trump told the WSJ he wouldn’t commit to America’s "One China" agreement with Beijing, i.e., he would continue to use Taiwan's independence as a bargaining chip, until he saw what he considered progress from Beijing in its
currency and trade practices. Asked if he supported the One China policy on Taiwan, Mr. Trump said: “Everything is under negotiation including One China.”

Mr. Trump seemed impatient with diplomatic protocols involving China and Taiwan. After his victory he took a congratulatory phone call from Taiwan’s leader, triggering objections from Beijing and stoking concerns among some U.S. foreign policy experts who questioned whether he understood the implications of such a conversation.

 

Speaking of Taiwan, he said: “We sold them $2 billion of military equipment last year. We can sell them $2 billion of the latest and greatest military equipment but we’re not allowed to accept a phone call. First of all it would have been very rude not to accept the phone call.”

On the other hand, Trump also made a point of showing a holiday greeting card he received from China’s leader, Xi Jinping. “I have a beautiful card from the chairman,” he said.

Trump also made news when he said that he would not label China a currency manipulator on his first day in the White House. Previously Trump has said in the past he would label China a currency manipulator after he takes office. In the interview, he said he wouldn’t take that step on his first day in the White House. “I would talk to them first,” he said.

He added: “Certainly they are manipulators. But I’m not looking to do that.” But he made plain his displeasure with China’s currency practices. “Instead of saying, ‘We’re devaluating our currency,’ they say, ‘Oh, our currency is dropping.’ It’s not dropping. They’re doing it on purpose.

“Our companies can’t compete with them now because our currency is strong and it’s killing us.”

As explained previously China is indeed manipulating its currency, although over the past 18 months it has been doing so in the other direction, intervening to support it from weakening further as a result of hundreds of billions in capital outflows, which have resulted in unprecedented capital controls.

Naturally, Trump also discussed the ever present topic of Russia and his relationship with Putin. Trump told the WSJ that while he would be open to lifting sanctions on Russian, “at least for a period of time,” he would keep intact sanctions against Russia imposed by the Obama administration in late December in response to Moscow’s alleged cyberattacks to influence November’s election. "But he suggested he might do away with those penalties if Russia proved helpful in battling terrorists and reaching other goals important to the U.S."

“If you get along and if Russia is really helping us, why would anybody have sanctions if somebody’s doing some really great things?” he said.

* * *

On Saturday morning, Trump was once again active on Twitter, first slamming Congressman John Lewis, who made news on Friday saying that Trump is "not a legitimate president", saying "John Lewis should spend more time on fixing and helping his district, which is in horrible shape and falling apart (not to mention crime infested) rather than falsely complaining about the election results. All talk, talk, talk - no action or results. Sad!"...

Congressman John Lewis should spend more time on fixing and helping his district, which is in horrible shape and falling apart (not to......

— Donald J. Trump (@realDonaldTrump) January 14, 2017

mention crime infested) rather than falsely complaining about the election results. All talk, talk, talk - no action or results. Sad!

— Donald J. Trump (@realDonaldTrump) January 14, 2017

... and then reverted back to the key political topic of last week, namely the US intel report on Trump, tweeting that "INTELLIGENCE INSIDERS NOW CLAIM THE TRUMP DOSSIER IS "A COMPLETE FRAUD!" "

INTELLIGENCE INSIDERS NOW CLAIM THE TRUMP DOSSIER IS "A COMPLETE FRAUD!" @OANN

— Donald J. Trump (@realDonaldTrump) January 14, 2017



TOPICS: Culture/Society; Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: china; media; russia; trump
Why read the FAKE news from CNN< Yahoo, MSM, CBS, NBC, NPR, etc....

1 posted on 01/14/2017 4:25:05 PM PST by vannrox
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To: vannrox

China HAS been manipulating its currency - to keep it from weakening.


2 posted on 01/14/2017 4:36:36 PM PST by babble-on
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To: vannrox

Trump described it right during the run up to the election, so folks would understand what was going on.

He is a smart guy, and he realizes now there’s more to be gained from new negotiations than hurling inflammatory dialogue.

China is a nation that places a high value on saving face. Trump should allow them to save face by making deals that are better for us behind closed doors.

We’ll see this play out over time > IMO.


3 posted on 01/14/2017 4:56:12 PM PST by DoughtyOne (John McStain. The friend of those who hate our nation.)
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To: vannrox

Trump will not be bound by the same level of thinking that got us into this mess or any other messes


4 posted on 01/14/2017 5:04:56 PM PST by stocksthatgoup (Imagine that)
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To: vannrox
China IS a currency manipulator and should be listed as such. We need sanctions that will actually harm the regime, not five peripheral Russians.
5 posted on 01/14/2017 5:18:02 PM PST by TBP (0bama lies, Granny dies.)
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To: babble-on

Doesn’t matter whether they manipulate their currency or not. We need to protect our own industries. We need to restore the import tariffs that served us well for 180 years. Foreigners selling into our market need to be paying a tariff to help support the government, support unemployed Americans, and pay the share of taxes that unemployed Americans would have been paying.


6 posted on 01/14/2017 5:21:04 PM PST by DannyTN
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To: TBP

The problem is that they’re manipulating it in a direction that hurts their trade and helps ours, and have been doing so for years. Trump’s economic advisors like Navarro are some of the stupidest in the profession.


7 posted on 01/15/2017 6:25:49 AM PST by babble-on
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