Donald Trump’s stunning policy reversal on China’s currency this week shone a light on the administration’s contradictory views on foreign exchange, and risks exposing the president to a political backlash over abandoned campaign promises, analysts say.
The president on Thursday backed away from his signature vow to brand China a currency manipulator, executing a U-turn from one of his most attention-grabbing campaign pledges.
It was one of a number of volte-faces this week, including a declaration that Nato is no longer “obsolete” and warmer words for Janet Yellen, the Federal Reserve chair, that appeared to leave open the option of reappointing her next year.
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