At the second and last meeting of Donald Trump’s much-hyped business advisory council in the spring, the US president asked more than a dozen US chief executives if the Treasury department should formally declare China a “currency manipulator” and impose punitive tariffs on Chinese imports.
“None of them thought it was a good idea,” said one person who attended the meeting on April 11. Within 24 hours, Mr Trump had publicly backed away from his threat to start a trade war between the world’s two largest economies.
No US company breathed a bigger sigh of relief after Mr Trump’s currency manipulator bluff than Boeing, which was represented on the president’s council by its former chairman and chief executive James McNerney.
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