The president of the United States Donald Trump declared on Friday that he likes a strong dollar, but “earning a lot more money” with the weakest American currency.
“So when we have a strong dollar, one thing happens: it seems good. But you don’t make tourism. You can’t sell tractors, you can’t sell trucks, you can’t sell anything,” Trump said to the White House before leaving for a trip to Scotland.
“It’s good for inflation, that’s all.”
The dollar index, which measures the strength of the US currency compared to six of the main currency, stabilized on Friday after reaching the minimum two weeks at the beginning of this week. The index accumulates about 10% falling in the six months in which Trump is in charge.
Trump often complains that the appreciation of the dollar compromises the competitiveness of US exports, production and employment in the country.
On Friday, he told journalists that the producers would be the first to benefit from the autumn of the dollar, citing the Caterpillar mining and mining equipment and actions have increased by 16% in the last month.
Japan and China fought for weaker coins for decades and have managed to dominate the markets over the years, said Trump.
“Now he does not have a good appearance, but gain a lot more money from a weaker dollar – not a weak dollar, but a weaker dollar – than a strong dollar,” he said.
At the same time, he recognized that pressing for a weaker dollar was not a good idea, saying that a strong dollar is psychologically good.
“It makes you feel good,” he said. “I love strong dollars.”
Source: Terra
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