Former US President Donald Trump has warned that if the United States loses a currency war against China, it would be like America losing a world war. “We will be a second-tier country,” Trump warned, adding that the US dollar is “what makes us mighty and strong.”
Donald Trump on the currency war between the United States and China
Former President Donald Trump warned in a Fox News interview, which aired on Wednesday, that China pushing much of the world off the dollar standard would be tantamount to America losing a world war.
“Iran is getting closer to Saudi Arabia through China. And China is taking over…And I’ve heard a few people say, ‘Well, we’ll never lose a standard dollar.’ Are they joking? he said, adding:
China wants to change the norm, the monetary norm. And if that happens, it’s like losing a world war. We will be a second-tier country.
Furthermore, the former US president explained that Western countries have already lost Brazil to Chinese influence and are about to lose Colombia in their own hemisphere. He further mentioned that Iran and Russia have already aligned with China.
Trump then commented on France’s relations with China and a recent meeting between French President Emmanuel Macron and Chinese President Xi Jinping, reiterating:
What is going on? We are losing. If we lose our currency, it is equivalent to losing a world war. Our currency is what makes us powerful and strong.
The former president insisted that if Macron had made his overtures to China while he was in the White House, he would have contacted the French president and threatened him with economic consequences, such as limiting the importation of French wine as a penalty.
According to Trump, all countries are difficult to deal with because they want to take advantage of the United States “They are all difficult because every country is ripping us off. But France is above all very difficult,” he said.
The former US president has revealed that he personally telephoned the French and threatened to impose 100% tariffs on champagne in response to French plans to tax US companies. “I get a callback 15 minutes later,” Trump added, adding that the French told him, “We’ve decided we’re not going to charge American companies.” However, the former president noted, “But you know what happened once I left, now they blame them.”
Last week, Trump warned that China was trying to replace the US dollar as the world’s number one currency, predicting that under the Biden administration they would “probably succeed”. “It would be the biggest defeat for our country in its history,” he said.
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