Red Tape

Written by SK Ashby

(Cartoonist - Matt Davies)

In other news, Senator Cory Booker (D-NJ) has dropped out of the Democratic presidential primary race.

Meanwhile, federal prosecutors have recommended 5 years in prison for former Rep. Chris Collins (R-NY). Collins pleaded guilty to insider trading.

Finally, the Trump regime has reportedly agreed to stop labeling China a "currency manipulator" ahead of signing "phase one" of their deal.

Now that a deal is in sight, the designation is being lifted. The administration had at one point considered maintaining the label and instead announcing it would monitor the yuan with the possibility of lifting the designation in August of this year, according to the people.

But economists have criticized the U.S. decision to call China a manipulator. The International Monetary Fund said in September the yuan is fairly valued and that there’s no evidence of manipulation. China’s weakening currency could also be attributed to a slowdown in growth.

This seems like another concession by Trump with nothing to show for it, but China was never a currency manipulator to begin with.

Trump is going to claim victory over something that never happened.