U.S. President Donald Trump has ordered the Treasury Department to stop printing new 1-cent coins, citing rising production costs.
In his post on his Truth Social account on Sunday (9/2) night, Trump wrote: "For too long the United States has been printing pennies that cost more than 2 cents. This is a waste!"
He added: "I have ordered the US Treasury Secretary to stop producing new pennies."
Trump's move is the latest in his new administration's rapid efforts to make sweeping changes through directives and proclamations.
It is not clear whether Trump has the authority to unilaterally eliminate the one-cent coin.
The currency specifications -- including the size and metal content of the coins -- are determined by Congress. But the move could pose challenges for business owners and employees across the U.S.
Sarwar Kamal, a shop manager, said it was taxes that made the penny necessary.
"Because there are taxes that we have to factor in, most of the prices usually end up being less than 1.06, or 1.07. Then we have to deal with cents. How are we going to do that? We don't know yet," Kamal said.
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