President Donald Trump called National Security Advisor Mike Flynn at 3 a.m. to ask about the economic impact of a strong US dollar, according to a report from the Huffington Post.
HuffPo’s SV Date and Christina Wilke, citing sources with knowledge of the conversation, reported that Trump asked Flynn if the strong dollar was good or bad for the US economy during the early morning phone call. According to the sources, Flynn said he was not sure and that Trump should ask an economist instead.
The Huffington Post said neither Flynn’s office nor the White House responded to their request for confirmation of the call. The White House did not immediately return a request for comment from Business Insider.
Trump and his team have generally said that the stronger dollar, which strengthened significantly against other major currencies after the election but has since given back some of its gains, has been a negative for the US economy.
In an interview with the Wall Street Journal, Trump said that the strong dollar is “killing us.”
“Our companies can’t compete with [Chinese companies] now because our currency is too strong. And it’s killing us,” Trump told the Journal.
Additionally, Trump’s Treasury secretary pick, Steven Mnuchin, said in written responses that while the stronger dollar is generally good for the US because it represents “faith that investors have in doing business in America,” but that the current strength of the dollar could have “negative short-term implications on the economy.”
Generally, a strong dollar is good for American consumers because it makes it cheaper for people to buy foreign made products, it can also hurt US-based producers that export their goods since those goods become more expensive in other countries.
The US dollar index is little changed on Wednesday, higher by 0.3% at 100.50.
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