BEIJING, China (Reuters) — China does not have any policy to devalue its currency to promote exports, Vice Foreign Minister Zheng Zeguang said on Friday (March 31), ahead of President Xi Jinping’s first meeting with United States President Donald Trump amid tensions over trade.
In a briefing, Zheng said China does not seek a trade surplus with the US and that it was willing to work to promote more balanced trade, although he said Washington should step up measures to increase exports to China.
Trump set the tone for what could be a tense meeting at his Mar-a-Lago retreat next week by tweeting on Thursday (March 30) that the US could no longer tolerate massive trade deficits and job losses.
The leaders of the world’s two largest economies are scheduled to meet next Thursday and Friday for the first time since Trump assumed office on January 20.
