The end of the Omnitrade

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The story "The end of the Omnitrade" was covered 12 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 12h ago

The end of the Omnitrade - Financial Times

Quick Summary:

This is likely why Trump talks not of devaluation of the US currency, but rather appreciation of everyone else’s — at the point of a gun, or rather the point of a tariff.

The goal would be to reduce the trade deficit: a weaker dollar would make imports more expensive for American consumers, and would make US exports cheaper for foreign consumers.

But Robert Lighthizer, Trump’s economic adviser who could be his pick for Treasury secretary, is reportedly in favour of weakening the dollar, not just threatening countries that weaken their own.