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President Donald Trump said he won’t devalue the dollar amid an escalating trade war with China that has unleashed tit-for-tat actions on trade and currency policy.
“No, we don’t have to,” Trump said Friday when asked whether he plans to devalue the greenback, though he added that if the Federal Reserve were to cut interest rates it “would automatically bring down the dollar a little bit,” relieving pressure on exporters.
Inside the White House, hawks have been pushing for a direct intervention in currency markets by the Treasury by pointing to a slowdown in US manufacturing, which many economists have blamed on
