President of the United States Donald Trump has put a stop to the production of penny coins that cost more than 2 cents to manufacture.

In another move to save on public spending, President Donald Trump announced via the Truth social media platform, criticizing the high production cost of some coins used in the country.

Stating that “The United States has been producing penny coins that cost us more than 2 cents for a long time,” Trump used the strong words “This is a huge waste.” Therefore, Trump revealed that he instructed Treasury Secretary Scott Bessent to halt the production of new “pennies,” saying, “Even if it’s just one penny each time, let’s eliminate waste in our great nation’s budget.”