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Trump Criticizes European Central Bank’s Tactics

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Business and Money Politics WJ Wire

President Donald Trump spent part of Tuesday morning criticizing the European Central Bank’s tactics to boost the European economy on Twitter.

“Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others,” Trump wrote on Twitter.

Draghi, president of the European Central Bank, gave a speech at a central banking forum in Sintra, Portugal, indicating he could take action to improve the European economy, reported CNN.

Those actions include printing more money and cutting interest rates, which are already at record lows in Europe.

“European Markets rose on comments [unfair to U.S.] made today by Mario D!” Trump wrote on Twitter minutes later.

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“German DAX way up due to stimulus remarks from Mario Draghi. Very unfair to the United States!” he added.

The DAX is a blue-chip stock market index made up of 30 major German companies.

Draghi’s comment triggered a jump in European markets, including a 105-point jump in the FTSE, an index of 100 companies listed on the London Stock Exchange, reported The Guardian.

Draghi’s remarks also drove the euro down almost 0.3 percent against the dollar, reported CNN.

Do you agree with President Trump’s criticism of the ECB?

Trump’s tweets emerged as he has been focusing on the strained U.S. trade relationship with China, which could see developments when Trump and Chinese President Xi Jinping meet during the G20 summit in late June in Japan.

Trump has also turned his attention toward the European Union in terms of trade.

That includes January’s deal that all but guaranteed the EU would buy more American soybeans.

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