Trump stops minting pennies due to cost

US President Donald Trump announced the halt of production of the penny coin.

Trump said in a statement today that the cost of minting pennies exceeds their value, and that each penny costs more than two cents, which constitutes an unacceptable waste of public money, noting that he has instructed the Treasury Department to stop production of new pennies.

This comes within the framework of the US President’s policy aimed at reducing government spending and addressing financial waste, as he stressed the need to redirect funds to more important areas.