Make Kitco Your Homepage

Trump says ECB action 'hurting U.S. exports'

Kitco News

WASHINGTON (Reuters) - The European Central Bank’s move to cut interest rates and restart a larger stimulus program drew fast reaction from the White House on Thursday with President Donald Trump saying the ECB was undercutting the value of its currency and “hurting U.S. exports.”

“European Central Bank, acting quickly, Cuts Rates 10 Basis Points. They are trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting U.S. exports.... And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!,” Trump tweeted about half an hour after the ECB’s policy announcement.

Reporting by Howard Schneider; Editing by Chizu Nomiyama

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.