The administration of Donald Trump is preparing to introduce a historic change to U.S. currency, with the Treasury Department announcing that the president’s signature will appear on banknotes while he is still in office.

According to officials, Trump will become the first sitting president to have his signature included on U.S. paper money, where it will appear alongside Treasury Secretary Scott Bessent. The department described the move as part of commemorations marking the nation’s 250th anniversary.

"There is no more powerful way to recognize the historic achievements of our great country and President Donald J Trump than US dollar bills bearing his name," Bessent said. US banknotes have traditionally carried the signatures of treasury officials.

The decision represents the latest effort by the administration to link Trump’s name with federal initiatives and public landmarks.

Officials said the first $100 (£75) notes bearing both signatures are scheduled for printing in June, with additional denominations expected to follow.

Current currency in circulation features the signatures of former Treasury Secretary Janet Yellen, who served under Joe Biden, along with Treasurer Lynn Malerba.

Since 1861, U.S. banknotes have consistently included the signature of the treasurer, a long-standing practice that would be altered under the new plan.

As preparations continue for the country’s semiquincentennial, Bessent said printing currency with Trump’s name would be a "powerful way to recognize the historic achievements of our great country" and the president. Current U.S. Treasurer Brandon Beach said the nation’s currency will "continue to stand as a symbol of prosperity, strength, and the unshakable spirit of the American people".

The anniversary marks 250 years since the 13 American colonies formally declared independence from Britain, a milestone widely recognized as the nation’s founding moment.

The announcement drew criticism from Gavin Newsom, a Democrat and frequent Trump opponent, who pointed to economic concerns in his response.

"Now Americans will know exactly who to blame as they're paying more for groceries, gas, rent, and health care," he posted on social media.

The currency initiative follows another recent approval tied to the anniversary. Earlier this month, a federal arts panel authorized a commemorative 24-karat gold coin featuring Trump’s likeness.

During his first term, Trump’s name also appeared on stimulus checks distributed to millions of Americans as part of federal relief efforts during the Covid-19 pandemic.