Washington: Republican presidential nominee Donald Trump has said, if elected, he would label China as currency manipulator and apply countervailing duties until the country ceases its illegal trade activities.
"If China does not stop its illegal activities, including its theft of American trade secrets and intellectual properties, I will apply countervailing duties until China ceases and desists," Trump said in a major speech on economic policies.
This action of enforcing intellectual property rules alone, just alone, would add millions of new American jobs, he said.
After becoming the president of the country, Trump said he will instruct his Treasury Secretary to label China as a currency manipulator.
"They are a currency manipulator, and we're going to apply tariffs to any country that devalues its currency to gain an unfair advantage over the United States. They are a manipulator, grand master level. We can't allow it to happen," he said.
"Our people and our representatives and our politicians don't have even a little clue as to how to play the game. We have a trade deficit this year with China of approximately USD500 billion.
"The people that are manufacturers that are great manufacturers, very successful people but they become less and less successful because they can't beat the system. In this way, too, it's a rigged system. And they're almost doing well and then, boom, there's a massive devaluation in china or other countries and there are plenty of other countries out there and some are actually hurting China, now," Trump said.