Donald Trump, who used to be the President of the United States, has warned that if America loses a currency war with China, it would be like losing a world war. He said that if we don’t protect our dollar, then America would become weaker and not as powerful anymore.
Donald Trump on US-China Currency War
Former President Trump said in an interview that aired on Wednesday that if China convinces other countries to no longer use the dollar as a currency, it will be like America has lost a world war. He then explained how Iran and Saudi Arabia would work together with China to do this. He also wondered out-loud why people think we can never lose the dollar standard.
The former U.S. president said that if China changes our currency standard, this would be like losing a world war and America will become a less important country. Also, he mentioned that because of Chinese influence, Brazil is already lost to us, and we are close to losing Colombia in our own region as well. He added that Iran and Russia have already joined forces with China too.
President Trump spoke about the connection between France and China, and what happened when French President Emmanuel Macron met Chinese President Xi Jinping. He said it this way: “We’re not doing so well and if we don’t protect our money – it’s like losing a major battle. Our money is what helps to keep us strong and powerful.”
The ex-president said that if Macron had talked to China while he was in charge, the President of France would have been in trouble because America could have imposed a penalty, like limiting the sale of French wine.
Trump then added that all countries are tricky because they all try to take advantage and rip off the US. In his words: “They’re all tough but France is tougher than most.”
Former U.S. President Trump called the French and warned them that he wanted to put tariffs on champagne if they kept their plan of taxing American companies. He got a reply from the French 15 minutes later who said they wouldn’t tax American companies after all. However, once Trump left office, the French started to charge these companies anyway!
Last week, Donald Trump pointed out that China wants to take the place of the U.S. dollar as the main currency used in the world and thinks it will happen when Joe Biden is President. He also said “this would be the worst thing ever to happen to our country.”
Do you believe what Mr. Trump said? Let us know if you do or don’t in the comments section below!