In comments that seem to contradict remarks by Treasury Secretary Steven Mnuchin, President Donald Trump has expressed support for a strong U.S. dollar.
Trump suggested in an interview with CNBC on Thursday that the strength of the U.S. economy would be reflected in an increase in the value of the currency.
“Our country is becoming so economically strong again and strong in other ways, too, by the way, that the dollar is going to get stronger and stronger” Trump said. “And ultimately I want to see a strong dollar.”
The comments from Trump come after Mnuchin seemed to welcome a weaker dollar in remarks at the World Economic Forum in Davos, Switzerland, on Wednesday.
“Obviously, a weaker dollar is good for us as it relates to trade and opportunities,” Mnuchin said, adding that he was not at all concerned about a recent decline in the value of U.S. dollar.
Trump claimed that Mnuchin’s comments were “taken out of context,” noting that he read the Treasury Secretary’s exact statement.
In the interview with CNBC, Trump also indicated he would consider re-entering the Trans-Pacific Partnership if the massive trade deal could be renegotiated.
“I would do TPP if we were able to make a substantially better deal,” Trump said. “The deal was terrible; the way it was structured was terrible. If we did a substantially better deal, I would be open to TPP.”
After repeatedly attacking TPP on the campaign trail, Trump withdrew from the agreement in one of his first acts in office last January.
Trump also said his administration has a “good chance” of renegotiating the North American Free Trade Agreement but reiterated that he may terminate the trade deal with Canada and Mexico.
(Photo: Gage Skidmore)
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