“It has to do with the weakening of the USD. We are tied to the USD so the price of the USD remains stable but the price of the Euro has gone up. The USD has become weaker because of the policy of the American government and the uncertainty that has been triggered by that policy,” said Minister Raghoebarsing. The Finance minister pointed out that many people are not happy about the price hike of the Euro. “This is not a Surinamese policy. Do not panic,” said Minister Raghoebarsing who added that US President Donald Trump  recently decided to impose a colossal set of new tariffs on America’s trading partners.

On Wednesday, Trump announced a 10% baseline tariff on all goods imports into the United States and even higher tariffs on products from about 60 economies. But America is harming itself as much as, if not more than, other economies with its latest tariffs, American analysts say. The overall economic “shock” from Trump’s tariffs will be exacerbated by any retaliatory measures imposed by America’s trading partners on US goods, the American analysts also wrote.