President Donald Trump is accusing China and Europe of playing a “big currency manipulation game.” He says the United States should match that effort, a move that directly contradicts official U.S. policy not to manipulate the dollar’s value to gain trade advantages.

In a tweet, the president says if America doesn’t act, the country will continue “being the dummies who sit back and politely watch as other countries continue to play their games — as they have for so many years.”

Trump’s own Treasury Department in May found that no country meets the criteria of being labeled a currency manipulator, although the report did put China and eight other countries on a watch list.

A country manipulates its currency when it drives down the value to make its exports cheaper.

China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years!

— Donald J. Trump (@realDonaldTrump) July 3, 2019

(AP)