Trump Accuses Russia, China of "Playing Currency Devaluation Game"

Since his election campaign in 2016, the US President Donald Trump has been scrutinizing US trade partners over their alleged dumping practices and calling for the renegotiation of trade agreements with many countries to tackle the loss of manufacturing jobs in the United States.

The US Head of the Government on his "Twitter" has made the statement that China and Russia allegedly play a role in the devaluation of currencies and this is "not acceptable."

Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!

— Donald J. Trump (@realDonaldTrump) April 16, 2018

In particular, Trump blamed China for currency manipulations and proposed to raise the issue of country's consignment to the rules of the World Trade Organization (WTO). The president has also vowed to impose a 45% tariff on imports from China, blaming the cheap imports for the loss of jobs in the United States.

The US Treasury has again refrained from naming any major trading partners as currency manipulators, as it pursues potential tariffs and negotiations to try to cut the massive trade deficit with China, in a semi-annual report.

READ MORE: Moscow: US Imposing Sanctions Merely for Russian Presence on International Arena

On April 6, the US Treasury Department added 38 Russian businesspeople, senior officials, and companies on its sanctions list, in response to Moscow's alleged "malign activity."

Russian lawmakers, in response, have submitted a wide-ranging bill that could freeze crucial exports to the United States.