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Trump trade advisers plot devaluing dollar
By Gavin Bade
Politico, Washington
Monday, April 15, 2024
Economic advisers close to former President Donald Trump are debating ways to devalue the U.S. dollar if he is elected to a second term -- a dramatic move that could boost U.S. exports but also reignite inflation and threaten the dollar's position as the world's dominant currency.
The idea is being discussed by former trade chief Robert Lighthizer -- a potential Treasury secretary pick for Trump and the architect of the former president's bruising tariff campaign against China -- and policy advisers allied with him, according to three former Trump administration officials granted anonymity to discuss confidential policy plans.
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Purposely devaluing the U.S. dollar by pressing other countries to alter their own currency values would represent the most aggressive proposal yet in Trump's attempts to reshape global trade. The potential moves would go beyond the tariffs of Trump's first term and the expansive industrial subsidies for clean energy enacted by President Joe Biden. A weaker dollar would make U.S. exports cheaper on the world market and potentially reduce the U.S.' yawning trade deficit. ...
... For the remainder of the report:
https://www.politico.com/news/2024/04/15/devaluing-dollar-trump-trade-war-00152009
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