|
Former U.S. President Donald Trump has described the yen’s weakening against the U.S. dollar as a “total disaster.”
On the 23rd (local time), Trump posted on his social media site, Truth Social, that “the dollar has hit a 34-year high against the yen. This is a total disaster for the United States.” The yen-dollar exchange rate recently soared to the late 154 yen range, hitting a 34-year high. This signifies a decline in the value of the yen. Trump stated, “When I was president, I spent much time telling Japan and China not to do this. It may sound good to fools, but it’s a disaster for our manufacturers and others.” He argued that American manufacturers could not compete appropriately due to the severe devaluation of the yen and would lose a lot of business. He added that American manufacturers would have no choice but to build factories or do anything in “smart countries” due to the exchange rate, explaining that this was the backdrop that made Japan and China great countries.”
He emphasized his efforts to check this by stating, “I put restrictions on Japan, China, and other countries for this reason during my presidency, and if they violated them, there was hell to pay.” He then took a dig at President Joe Biden, saying, “Biden is letting this happen. Watch them divide America. Crooked Joe needs to wake up.”
Most Commented