Sparks flew as the United States President Donald Trump accused Europe and China for currency manipulation. Trump’s tweet calls for the United States to take measures or continue to “be duped” by both Europe and China.
China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years!— Donald J. Trump (@realDonaldTrump) July 3, 2019
This is definitely not the first time that Trump has spoken about currency manipulation. A few months ago, the Present put 9 countries on a “watch list”. The report to Congress stated that Germany, China, Ireland, Italy, Japan, South Korea, Vietnam, Malaysia and Singapore are closely tracked. Additionally, Switzerland and India were also listed on the previous watch list, but were now removed.
The currency manipulation accusations are taken as a joke by many
Twitter users have quickly called out Trump for the sudden accusations against China and Europe. Most people seem to be in alignment that the US Dollar is heading for a crash and countries and people throughout the world should stock up on cryptocurrencies.
Direct order from Trump to buy Bitcoin https://t.co/3RWm4tpm03— Peter McCormack (@PeterMcCormack) July 3, 2019
Trump’s accusations about currency manipulations were met with a lot of concerns in Europe. Many experts believe that the accusations will be followed by the President raising tariffs on Europe.
It’s been widely stated by analysts that the weakening euro can push Trump into living up to his past threats on posing tariffs on European goods, mainly those from the auto sector.
China’s central bank officially dismissed all of Trump’s accusations. The central bank stated that the yuan is not manipulated and is not being used as a trade weapon against the United States.
Politicians weaponizing their nation’s currencies as trade weapons is nothing new to the international politics scene. Gaining the upper hand in the trade wars is what both sides desire, but it’s more than apparent that crypto is the only clear winner from the trade wars.
A sudden increase in tensions between the United States and China, could lead to massive crypto price surges. If Trump keeps up his hostile trade politics, we can expect a lot of interesting developments and a very wild crypto summer.
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Tags:currency manipulationEU goods tariffsTrump accusationstrump accusations China and EuropeUS countries financial watch list