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President Trump Says the U.S. Dollar Is 'Too Strong'

Alana Abramson
Donald Trump said in an interview Wednesday that he thinks the U.S. dollar is getting too strong, which will ultimately impede the economy.

President Trump said in an interview Wednesday that he thinks the U.S. dollar is getting too strong, which will ultimately impede the economy.

“I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me,” he told the Wall Street Journal. “But that’s hurting - that will hurt ultimately.”

“Look, there’s some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good.”

Following Trump’s remarks, the dollar index hit its lowest level of the month, CNBC reports.

Trump also told the Journal Wednesday his administration would not label China a currency manipulator in an upcoming report, a complete reversal from what he said during his presidential campaign.

Trump has decided to change his mind about labeling China a currency manipulator because it could impede talks with the country about North Korea and they haven’t been doing it for months. “They’re not currency manipulators,” Trump told the Journal.

But criticizing China for currency manipulation was a frequent topic for Trump on the campaign trail, where he referred to the country as “abusers” and said he would label them a currency manipulator.

“China just devalued their currency recently more than they have at any time in more than two decades,” he told Anderson Cooper in March of 2016. “This was like shocking. And the only reason they did it is because we’re weak and have no leadership.”

This article was originally published on Money.com