It would make more sense for Trump to welcome the yuan devaluation and say it proves him right that Chinese producers will bear much of the tariff costs.
By devaluing, China is cutting the real compensation of hundreds of millions of Chinese workers.
But our response is threatening to do the same to American workers?
But our response is threatening to do the same to American workers?
If Trump didn't anticipate and desire yuan devaluation, then what mechanism was he assuming when he said China would pay for the tariffs???
Larry "King Dollar" Kudlow is the president's top economic adviser... and yet the president is apparently considering competitive devaluation. Huh?
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