Donald Trump’s obsession with currency manipulation has reached a new high. The president’s latest tweet on the subject last week suggested the US should “match” what he called a “big currency manipulation game” played by Europe and China. Worryingly, his outburst followed recent moves by US institutions to focus more on currency manipulation. These come on top of Mr Trump’s frequent attacks on the Federal Reserve for keeping interest rates too high, and his nomination of a prominent Fed critic, Judy Shelton, to its board. Using the dollar as a weapon to boost trade will lead to further unwelcome politicisation of trade policy and risk rising retaliation.
唐納•川普(Donald Trump)對操縱匯率問題的糾結到達了一個新高度。這位美國總統上週就這個問題發佈的最新推文說，歐洲與中國在玩一個「大規模匯率操縱遊戲」，並建議美國應該「以牙還牙」。令人擔憂的是，在他發表這一火爆言論之前，美國機構最近也採取了行動，更多地聚焦於匯率操縱問題。先前，川普還頻頻抨擊美聯準(Fed)將利率維持在過高水準，並提名一位知名的美聯準批評者茱蒂•謝爾頓(Judy Shelton)爲美聯準理事。將美元作爲提振貿易的武器，會導致貿易政策進一步政治化，並可能引發越來越激烈的報復。