[U.S]–President Donald Trump has indicated that he wants to reduce the value of the U.S dollar to aid American companies selling products abroad.
The U.S President signaled this on Thursday, while speaking with Caterpillar’s Chairman, Oberhelman. Trump said that when the dollar rises, “we let other people manipulate their currencies”. “We have to let other countries to give you a playing field”. He added.
Trump, who made this comment just a day after his new Treasury Secretary, Steven Mnuchin said a strong dollar is a good thing, has repeatedly slammed countries for what he calls artificially weakening their currency to make their export more competitive.
In a report by CNBC, it noted that past president of the U.S have often refrained from talking about the strength or weakness of the U.S dollar, adding that Treasury Secretaries would rather “generally tout dollar strength as a sign of faith in the American economy, even at times when it posed challenges to multinational companiesPlease Follow Us @ThePageNg