WASHINGTON (AP) — President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a post Sunday night on his Truth Social site. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”

The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation on issues ranging from immigration, to gender and diversity, to the name of the Gulf of Mexico.

Trump had not discussed his desire to eliminate the penny during his campaign. But Elon Musk’s so-called Department of Government Efficiency raised the prospect in a post on X last month highlighting the penny’s cost.

The U.S. Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced. Every penny cost nearly $0.037 — up from $0.031 the year before.

The mint also loses money on the nickel, with each of the $0.05 coins costing nearly $0.14 to make.

It is unclear whether Trump has the power to unilaterally eliminate the lowly one-cent coin. Currency specifications — including the size and metal content of coins — are dictated by Congress.

But Robert K. Triest, an economics professor at Northeastern University, has argued that there might be wiggle room.

“The process of discontinuing the penny in the U.S. is a little unclear. It would likely require an act of Congress, but the Secretary of the Treasury might be able to simply stop the minting of new pennies,” he said last month.

Members of Congress have repeatedly introduced legislation taking aim at the zinc coin with copper plating. Proposals over the years have attempted to temporarily suspend the penny’s production, eliminate it from circulation, or require that prices be rounded to the nearest five cents, according to the Congressional Research Service.

Proponents of eliminating the coin have cited cost savings, speedier checkouts at cash registers, and the fact that a number of countries have already eliminated their one-cent coins. Canada, for instance, stopped minting its penny in 2012.

It wouldn’t be the first time the U.S. eliminated its least valuable coin. The half-cent coin was discontinued by Congress in 1857.

Trump’s new administration has been sharply focused on cutting costs, with Musk, who has been brought on to lead the task, targeting entire agencies and large swaths of the federal workforce as he tries to identify a goal of $2 trillion in savings.

“Let’s rip the waste out of our great nations budget, even if it’s a penny at a time,” Trump wrote in his post.

Trump sent the message as he was departing New Orleans after watching the first half of the Super Bowl.

SANTA ANA, Calif. (AP) — The former interpreter for baseball star Shohei Ohtani was sentenced Thursday to nearly five years in prison for bank and tax fraud after he stole nearly $17 million from the Los Angeles Dodgers player’s bank account.

Ippei Mizuhara, who was supposed to bridge the gap between the Japanese athlete and his English-speaking teammates and fans, was sentenced in federal court in Santa Ana to four years and nine months after pleading guilty last year.

He was ordered Thursday to pay $18 million in restitution, with nearly $17 million going to Ohtani and the remainder to the IRS. He was also sentenced to three years’ supervised release on top of the prison sentence and ordered to surrender to authorities by March 24.

“The magnitude of the theft — $17 million — in my view, is shockingly high,” U.S. District Judge John W. Holcomb said upon issuing the sentence.

Holcomb said most people don’t make that much money in their lifetime.

“I hope that Mr. Mizuhara will be able to repay that sum,” Holcomb said. “That remains to be seen.”

Mizuhara addressed the court and apologized to Ohtani, the Los Angeles Dodgers, the government and his family.

“I am truly, deeply sorry for what I have done,” Mizuhara said. “I am prepared to be punished for it.”

Mizuhara has acknowledged using the money to cover his growing gambling bets and debts with an illegal bookmaker, in addition to $325,000 worth of baseball cards and his own dental bills.

His attorney declined to comment after the hearing.

Acting U.S. Attorney Joseph T. McNally told reporters outside court that Mizuhara took advantage of Ohtani’s vulnerability as a non-English speaker trying to navigate the world of celebrity baseball — a high-profile example of something that is all too common. He emphasized that Ohtani was a victim.

“Mr. Mizuhara lied, he cheated and he stole,” McNally said. “His behavior was shameless.”

Mizuhara’s attorney, Michael Freedman, had asked for a sentence of one and a half years. During the sentencing hearing, he asked that the judge consider his client’s gambling addiction was challenged by his connection to a bookie willing to credit him large sums of money because of who he worked for.

“He was exposed to a world in which he was given a unique and unlimited credit to run up these kinds of numbers,” Freedman said.

Federal prosecutor Jeff Mitchell said the amount stolen by Mizuhara amounted to about half of what Ohtani earned from the Los Angeles Angels when he pitched for them, and the damage went even further.

“The most significant harm to Mr. Ohtani is the reputational damage, which may never be fully repaired,” Mitchell said.

The case affected arguably the world’s most famous baseball player and stoked an international media frenzy. It stemmed from a broader probe into illegal sports bookmaking organizations in Southern California and the laundering of proceeds through casinos in Las Vegas.

Mizuhara accessed Ohtani’s account beginning in 2021 and changed its security protocols so he could impersonate him to authorize wire transfers. By 2024, Mizuhara had used the money to buy about $325,000 worth of baseball cards at online resellers and had bet tens of millions of dollars that weren’t his to wager on international soccer, the NBA, the NFL and college football. Prosecutors said Mizuhara never bet on baseball.

Mizuhara was born in Japan and moved to California with his parents when he was 6. He struggled to learn English but eventually did, and he returned to Japan in 2013 to become an interpreter for a Japanese baseball team and later for Ohtani, according to court filings.

The two formed a tight-knit bond, and Mizuhara moved with Ohtani in 2018 to the U.S., where he took on numerous errands for the player such as grocery shopping, Mizuhara’s attorney wrote.

Inside baseball, Mizuhara stood by Ohtani’s side for many of the athlete’s career highlights, from serving as his catcher during the Home Run Derby at the 2021 All-Star Game, to being there for his two American League MVP wins and his record-shattering $700 million, 10-year deal with the Los Angeles Dodgers.

Off the field, Mizuhara was Ohtani’s friend and confidant. He famously resigned from the Los Angeles Angels during the 2021 MLB lockout so he could keep speaking to Ohtani, and he was rehired after a deal was struck.

Last year, Ohtani and the Dodgers won the World Series, and the baseball star won his third Most Valuable Player award.