Trade protectionism masquerading as currency policy is harmful

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Financial Times 3d ago

Trade protectionism masquerading as currency policy is harmful - Financial Times

Quick Summary:

How about just getting macro policy right and ignore the dollar?

Under the first Trump administration’s currency CVD proposals, Commerce was to work with the Treasury Department in gauging undervaluation, but it could then adjust as it saw fit.

The dollar was the messenger, not the cause, but sometimes the messenger gets shot.Under Trump 1.0, fiscal expansion and tariffs pushed the dollar higher.