President Donald Trump on Thursday took a step closer to sparking a currency war in the escalating conflict with China, saying he is not happy with the strong US dollar.
Trump has pursued a policy of maximum pressure, including subjecting all Chinese goods to punitive tariffs as of September 1, and accusing Beijing of manipulating its currency to gain a competitive edge.
In a move that breaks with decades of US policy, Trump on Thursday seemed to call for a weaker dollar to help American companies compete.
“As your President, one would think that I would be thrilled with our very strong dollar. I am not!” he said on Twitter.
“The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers like Caterpillar, Boeing, … John Deere, our car companies, & others, to compete on a level playing field.”
Read more at Yahoo News