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President Donald Trump’s threats to upend international trade and disrupt global alliances have triggered doubts about whether the dollar’s dominance will fade.
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“I’m very sympathetic to the case that it is an exorbitant burden rather than an exorbitant privilege,” said Oren Cass, the founder of the right-leaning think tank American Compass and an ally of Vice President JD Vance and Secretary of State Marco Rubio. “It is certainly good for Wall Street and financial markets, but that has not proved to have a correlation with what is good for most American communities and typical American workers.”
“When I hear people say: ‘Well, we’re seeing potential weakening of the dollar and we’re worried that will reduce the dominance of American financial actors,’ I am not especially disappointed,” he added.
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Michael Pettis on Dollar Dominance
Oren is joined by Michael Pettis for an in-depth discussion of the dollar as the global reserve currency: pros, cons, and what it all means for the American economy.
‘Totally silly.’ Trump’s focus on trade deficit bewilders economists
Many economists disagree with Trump’s tariff strategy, but American Compass policy advisor Mark DiPlacido disagrees.
With Car Tariffs, Trump Puts His Unorthodox Trade Theory to the Test
With sweeping auto levies, the president is putting his beliefs about tariffs into practice on the global economy.
