Republican Sen. Chuck Grassley of Iowa called out China for currency manipulation Monday on Fox Business, but also urged caution to avoid a full blown trade war.
Grassley said he was fearful of China’s response to America’s trade policy under President Donald Trump, prompting host Host Maria Bartiromo to ask what the government’s plan is.
“I would say we move in the direction the president wants to go, but you do it very cautiously,” Grassley replied. “Now I’ve added advocated some very prominent things like calling China out for not letting their currency float, as an example. Because that’s an indirect subsidy to exports. And we’ve been very cautious about that both with Republicans and Democrats. I don’t see anything wrong saying that they’re cheating on their currency.”
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