Donald Trump thinks a strong dollar is hurting US manufacturing. His team has backed the idea of currency weakening.
The greenback has depreciated against other major currencies since Donald Trump’s inauguration in January. Investors are worried that Trump’s tariffs could cause a recession in the United States, and they have rushed to the exit.
Is the president bothered? Trump appears to be of two minds when it comes to his nation’s currency.
He wants a dominant dollar because it gives the US geopolitical leverage.
But, he says, a weaker greenback spurs US manufacturing.
Some economists say the president could devalue the dollar. His team has backed the idea of a “Mar-a-Lago Accord” to weaken it.
BRICS countries are also decreasing their reliance on the dollar.