China also has no need to use competitive devaluation of its currency to aid its exports, Geng Shuang, a spokesman for the foreign ministry, told a daily news briefing.
US Treasury Secretary Steven Mnuchin said last week the United States was monitoring the recent weakness in China’s yuan currency and would review whether it had been manipulated.
“I’m ready to go to 500,” the president told CNBC’s Joe Kernen in a Squawk Box broadcast on Friday.
The reference is to the dollar amount of Chinese imports the U.S. accepted in 2017 — $505.5 billion to be exact, compared with the $129.9 billion the U.S. exported to China, according to Census Bureau data.