Trump changes economic policies, abandons campaign pledges

President Donald Trump is backing off some campaign promises and taking the more moderate approach of his predecessor.

The biggest flip was probably Trump's view of China.

Throughout the campaign, Trump pointed to China's currency manipulation as one reason for the sluggish U.S. economy.

But since taking office, he's taken a lighter tone.

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Trump told The Wall Street Journal he wouldn't label China as a currency manipulator, instead insisting that the U.S. dollar had grown too strong to be competitive.

The president has walked back other economic promises, including his opposition to the Export-Import Bank, which subsidizes American exports.

He's also recently complimented Federal Reserve Chair Janet Yellen, an Obama appointee Trump used to criticize for keeping interest rates low.

SEE MORE: Trump Is Distancing Himself From One Key Staffer. Here's Why.

But the most significant test of Trump's economic policy could lie in the upcoming Congressional fight over tax reform.