Donald Trump Jr. suggested on Tuesday that it could be a "good thing" for China to take over as the world's reserve currency because it would teach Americans a "lesson."
While speaking to conservative host Steve Bannon, Trump attacked President Joe Biden over rising inflation.
"If you're not the world's reserve currency, you don't get to borrow and spend haphazardly," he explained. "Maybe that's a good thing. Maybe we need that lesson. But, man, the price we will pay to learn that lesson the hard way is going to be a disaster."
"You don't get to borrow and run these deficits the way you have in the past," Trump continued. "You know, we've been sort of spending much more than we've been making for decades and there comes a time when you have to pay the piper."
Trump did not acknowledge that his father's leadership of the U.S. resulted in the third-largest deficit increase of any president.
Under Donald Trump's presidency, the national debt rose by $7.8 trillion.
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