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August 13, 2019 10:00 AM, EDT

Trump Says US-China Trade War Tariffs Aren’t Boosting US Prices

Donald Trump President Donald Trump by Andrew Harrer/Bloomberg

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President Donald Trump decried China’s “massive” intervention to suppress the yuan, portraying the U.S. as the beneficiary of his tariffs on Chinese imports and signaling the policy isn’t pushing up domestic prices.

“Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the U.S. is receiving is a gift from China,” Trump said on Twitter Aug. 13. “Prices not up, no inflation. Farmers getting more than China would be spending. Fake News won’t report!”