Former US President Donald Trump warned that losing a currency war with China would be like the US losing a world war.” We will be a second-rate country,” Trump warned, adding that the U.S. dollar is “what makes us strong and powerful.”
Donald Trump on U.S.-China Currency War
In an interview with Fox News that aired Wednesday, former President Donald Trump warned that China’s withdrawal of most of the world from the dollar standard would be the same as the U.S. losing a world war.
“Iran will join Saudi Arabia through China. And China is in control: …… And I’ve heard some people say, ‘Well, we won’t lose the dollar standard. Are they kidding?” and elaborated:
China is going to change the standard, the currency standard. If they do, it will be like losing a world war. We will be a second-rate country.
Furthermore, the former US president explained that the West has already lost Brazil to Chinese influence and is about to lose Colombia within its own hemisphere. He further mentioned that Iran and Russia are already allied with China.
Trump proceeded to comment on France-China relations and the recent meeting between French President Emmanuel Macron and Chinese President Xi Jinping, repeating:
What’s going on? We are losing. If we lose our currency it is the same as losing a world war. Currency is what makes us strong and powerful.
The former president claims that if Macron had made overtures to China while he was in the White House, he would have contacted the French president and threatened economic consequences, including restricting imports of French wine as a penalty.
According to Trump, because every country tries to take advantage of the United States, “It’s difficult because every country rips us off. But France is especially very difficult.”
The former U.S. president revealed that he himself called France in response to French plans to tax American companies and threatened to impose a 100% tariff on champagne.” “I get a call back in 15 minutes,” Trump further shared, adding that he was told by France: “I decided not to impose it on American companies. But the former president noted: “But you know what happened after I left, now they are charging them.”
Last week, Trump warned that China is trying to replace the U.S. dollar as the world’s number one currency and predicted that under the Biden administration, it will “probably” succeed.” He stressed that “this would be the biggest defeat in the history of our country.
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