President Donald Trump seems convinced that every economic issue plaguing the United States while he’s in office is definitely not his fault. This week, as the global economy reeled from yet another escalation in his administration’s ongoing trade war with China, he took to Twitter to lambast the Federal Reserve yet again, claiming that the interest rate hikes they have imposed have crippled the ability of U.S. businesses to compete appropriately in the current global marketplace. In reality, their efforts to maintain the value of the dollar are not operating in some kind of vacuum — Trump himself has and continues to cripple the U.S. standing in the global economy via making it more and more expensive to do global business via his import taxes.
Still, like someone assuming all eyes are focused on them when they’re really not, he railed on Twitter:
‘As your President, one would think that I would be thrilled with our very strong dollar. I am not! The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers… to compete on a level playing field… We have the greatest companies in the world, there is nobody even close, but unfortunately the same cannot be said about our Federal Reserve. They have called it wrong at every step of the way, and we are still winning. Can you imagine what would happen if they actually called it right?’
Can you imagine what would happen if Trump didn’t impose import taxes that one recent trade report estimated cost American businesses a whopping $3.4 billion just in June?
Again, the issue keeping American businesses from being able to be as competitive as they could is not the fact that every dollar is being kept highly valuable by high interest rates — it’s the fact that they’re being forced to pay massive amounts of money in import taxes so Trump can “teach China a lesson” or whatever! Trump refuses to see the truth.
Check out Twitter’s response…
Featured Image via screenshot