MAGA Republicans are wrong to seek a cheaper dollar
It is hard to cast America as a victim of the global financial system
Whether the dollar should be strong or weak is a vexing question for America’s economic nationalists. In his first term as president, Donald Trump often said that he wanted a weaker currency to make American-made goods cheaper overseas. But his tariffs and deficit-financed tax cuts contributed to a surge in the greenback’s value—and he also said that “ultimately” he wanted a strong currency. Today, with the dollar higher still, Mr Trump again says he wants a devaluation. And his choice of J.D. Vance as his running-mate has added another weak-dollar proponent to his inner circle.
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This article appeared in the Leaders section of the print edition under the headline “Don’t stop the buck”
From the July 27th 2024 edition
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