Former President Donald Trump has recently claimed that the United States dollar is “too strong” and wants its purchasing power to be weakened in order to be more competitive in the world economy.
In a post on Truth Social on April 23rd, Trump wrote:
The Dollar has just hit a 34 year high against the Yen, a total disaster for the United States. When I was President, I spent a good deal of time telling Japan and China, in particular, you can’t do that. It sounds good to stupid people, but it is a disaster for our manufacturers and others.
They are actually unable to compete and will be forced to either lose lots of business, or build plants, or whatever, in the “smart” Countries. This is what made Japan and China into behemoths years ago. I put limits on both (and others!), and if they violated those limits, there was hell to pay. Biden has let it go. Watch them now pick apart the U.S. It will be an open field day. Don’t let this happen Crooked Joe. Wake up and smell the roses!
Forbes noted in a report, ‘Trump is exploring options to devalue the dollar if he returns to office in November in order to address the U.S. trade deficit with countries like China and Japan, Politico reported—a move widely criticized by experts who say this could also contribute to inflation and raise prices for American consumers.’
Additionally, Trump’s advisers have also hinted at penalties for nations that move away from the dollar.
Bloomberg noted that these ‘discussions include penalties for allies or adversaries who seek active ways to engage in bilateral trade in currencies other than the dollar — with options including export controls, currency manipulation charges and tariffs, the people said, speaking on the condition of anonymity.’
Trump and his advisers have insinuated that, should he be reelected, he will move to stop BRICS and others from de-dollarizing.
I hate when countries go off the dollar. I would not allow countries to go off the dollar because when we lose that standard, that will be like losing a revolutionary war. That will be a hit to our country.
With Biden, you’re going to lose the dollar as the standard. That’ll be like losing the biggest war we’ve ever lost.
Trump said in a March 11th interview on CNBC
Trump has indicated a number of other times during his presidency that he hates a strong American dollar.
In April 2017, USA Today reported: ‘In an interview with The Wall Street Journal, the president made headlines and moved currency and bond markets when he said the strength of the U.S. dollar was hurting the competitiveness of U.S. companies that do a lot of business abroad…
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