Trump denies "tariffs are a problem", accuses the Fed

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Trump denies "tariffs are a problem", accuses the Fed

Donald Trump denied on Friday that tariffs imposed to force China to negotiate a trade deal posed a problem to the economy, but accused the central bank of being responsible for slowing the world's largest economy.

"We do not have a problem with tariffs (we are putting wrong players and unfair practices back on the right track), but the Fed is a problem, they have no idea what they are doing" , tweeted the American president.

Many professional federations have warned the president in recent days against the harmful effects of additional tariffs on products imported from China, due to come into effect on 1 September.

While Donald Trump often accuses the Central Bank of the "braking" of his economy, he broke new ground on Friday by accusing companies that complain about the tariffs of being run by incompetent people.

→ See also: The US economy grew at an annual rate of 2% in the 2nd quarter

"Badly run and weak companies blame – and it's good to see – these little tariffs rather than themselves for mismanagement … and who can really blame them for doing that? These are just excuses ! ", he still tweeted.

Mr. Trump also rebelled against the high dollar, again accusing the Fed of "NOTHING to do", while "the euro falls like crazy against the dollar, which gives them a big advantage for export and for the manufacturing sector ".

He reiterated once again the untruth that the dollar would now be the highest in history. This is false, the level of the greenback having already been much higher compared to major world currencies, especially in the mid-1980s.

The president pointed out how much this weighed on US exporters. In fact, when the value of the dollar increases against the currencies of the trading partners, it automatically increases the price to pay for the exported American products.

With AFP



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