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Trump Criticizes European Central Bank’s Tactics

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Evie Fordham Politics and Health Care Reporter

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

“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. (RELATED: Egypt’s Ousted President Mohammed Morsi Dies After Courtroom Collapse)

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

“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.

The headquarters of the European Central Bank (ECB) is pictured in the background as people take part in the "Global Strike For Future" demonstration in Frankfurt am Main, western Germany on May 24, 2019, a global day of student protests aiming to spark world leaders into action on climate change. (YANN SCHREIBER/AFP/Getty Images)

The headquarters of the European Central Bank (ECB) is pictured in the background as people take part in the “Global Strike For Future” demonstration in Frankfurt am Main, western Germany on May 24, 2019, a global day of student protests aiming to spark world leaders into action on climate change. (YANN SCHREIBER/AFP/Getty Images)

A picture taken on May 20, 2019 shows the new 200 euros banknotes during the printing procedure in the Bankitalia, the Italian national central bank, high-security factory in Rome. (VINCENZO PINTO/AFP/Getty Images)

A picture taken on May 20, 2019 shows the new 200 euros banknotes during the printing procedure in the Bankitalia, the Italian national central bank, high-security factory in Rome. (VINCENZO PINTO/AFP/Getty Images)

Trump’s complaints come 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 G-20 summit in late June. Trump has also turned his attention toward the European Union in terms of trade, including January’s deal that all but guaranteed the EU would buy more American soybeans.

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