President Donald Trump again took aim at the U.S. currency, taking a step closer to scrapping longstanding official support for a strong dollar, Bloomberg reports.
“One would think that I would be thrilled with our very strong dollar. I am not!” Trump said in a tweet. “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” to compete, identifying Caterpillar Inc., Boeing Co. and Deere & Co.
Trump’s tweets escalate his complaints over the dollar’s value and the Federal Reserve as he wages an increasingly heated trade war with China. It comes days after his administration branded China a currency manipulator and the president himself told reporters on July 26 that he had not ruled out intervention to weaken the dollar.
