Trump free-market advisers brace for battle over dollar policy in second term

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Free-market advisers to Donald Trump are bracing for an effort by his protectionist allies to devalue the dollar, a move critics say would be harmful.

Supply-side conservatives are worried about a renewed focus by Trump on the dollar, as well as by reported plans from former U.S. Trade AdviserLighthizer, 76, has extensive experience in trade policy and on China, serving as deputy U.S. trade representative in the Reagan administration before spending decades working in international trade law.that he and other advisers are actively examining ways that the U.S. could tamp down the value of the dollar in an effort to boost U.S. exports.

Moore is part of Committee to Unleash Prosperity, a group he founded with Steve Forbes of Forbes Media; Phil Kerpen, the president of American Commitment; and Arthur Laffer, one of the intellectual fathers of supply-side economics.meets with the former president about every six weeks to float names for possible political appointees and brief him on economic policy.

When asked for comment on the idea of devaluing the dollar, the Trump campaign eventually responded by referencing a new post from the former president on his social media platform, Truth Social, in which he called it a “total disaster” that the dollar hit a 34-year high against Japan’s currency, the yen.

He also used other tools for the same purpose. With guidance from Lighthizer, he hiked tariffs on China, as well as on commodities such as steel and aluminum and goods such as washing machines, using existing powers, especially national security authorizations. “The whole system was set up after the experience of the 1930s, that if different countries try to do what they call ‘beggar-thy-neighbor’ policies, then the whole system breaks down,” Lachman said. “You get all sorts of trade restrictions going everywhere.”

 

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