During a speech Tuesday night, GOP presidential candidate and businessman Donald Trump defined the news that China had devalued its currency a second time as a move that threatened to "suck the blood out of the United States."
Trump made the comments while speaking at the Lincoln Day dinner in Birch Run, Michigan, where he referenced the struggling economy in the Wolverine State, which used to be a major manufacturing hub in the country. He argued that Michigan's economy was undermined by manufacturing that had been outsourced, Politico
The presidential hopeful then addressed China devaluing its currency
against the U.S. dollar on Tuesday by about 2 percent.
"You have to do something about China. They devalued their currency today," Trump said during a press conference before the speech. "They make it absolutely impossible for the United States to compete, and nobody does anything."
When China cuts its currency, the real estate mogul said, it is harder for the United States to "compete" in the global market.
"I've been saying this for years. They've been doing it for years. This isn't just starting," he said, adding that "this is the largest devaluation they've had in two decades."
"They're making it impossible for our businesses, our companies to compete" in international trade, Trump said.
"What's going on with China is unbelievable — the largest devaluation in two decades — it's a disgrace."
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