Trump Accuses China of Currency Manipulation Amid Tariff Dispute

U.S. President Donald Trump has accused China of manipulating its currency in response to tariffs, but expressed confidence that China will eventually reach a deal.

Speaking at a National Republican Congressional Committee event, President Trump stated that China is currently paying 104% in tariffs and has been manipulating its currency as a countermeasure. He emphasized that the U.S. is collecting $2 billion daily from these tariffs. Trump also mentioned that representatives from Japan and South Korea are arriving in the U.S. to negotiate agreements, adding, “I believe China will come to an agreement eventually.”

The U.S. President also announced plans to impose tariffs on pharmaceuticals. Additionally, Trump criticized the Democratic Party, claiming that public trust in them has eroded and that he had been politically targeted during their tenure. He expressed confidence in the Republican Party’s position, predicting a significant victory in the upcoming midterm elections with a lead of over 100 seats in Congress.

In another development, President Trump signed an executive order to increase coal production.

The tariff dispute between the U.S. and China continues to escalate, with the White House stating that a new 104% tariff on China will take effect starting April 9. China, however, has previously condemned the U.S. president’s threats of additional tariffs as economic bullying.

According to the White House, 70 countries have reached out for discussions on tariffs, with a broad range of issues—such as aid and the presence of U.S. troops in these countries—set to be addressed during trade talks.