The US president asked his minister yesterday on finance to stop cutting coins of one cent (one minute), as their production is considered too expensive in order to reduce public spending.
“For a long time, the US has cut coins of one cent, which literally cost us more than 2 cents (to produce). It’s a waste! ”, President Trump said in a post on the midst of social networking Truth Social.
“I asked the US finance minister to stop producing new currency. Let us eliminate the waste of our great nation budget, even if we do it one by one, “he said.
Had been raised by Musk as a matter
Billionaire Ilon Musk, who is head of the Doge Committee (Doge), had raised this issue in January, reminding his message in X the cost of producing one cent.
The debate in the US around the one -minute currency is not the first time, many bills in this direction have already been filed in Congress, without adopting.
And Donald Trump’s decree will obviously need to obtain the approval of US parliamentarians.
However, the current finance minister, Scott Bessed, could simply order the production of the coin, said Northeastern University Economics Professor Robert Triti in January.
What will happen with prices
Prices will probably be rounded if they stop cutting coins of one minute, he added.
Trump has made a reduction in public spending on the priority of his new government, a mission he commissioned to Doge and his team.
Other countries have already stopped the circulation of their one -minute coins, such as Canada in 2012, which had also relying on the excessive cost of production.
