Donald Trump swept into his second term promising an “America First” revolution, vowing to restore economic might through tariffs, trade leverage, and tax cuts. Yet, barely three months in, the administration’s push for a weaker dollar—driven principally by adviser Stephen Miran—is risking monetary instability and inflation that could hit the working class Trump claims to champion hardest.
Stephen Miran, chair of Trump’s Council of Economic Advisers, may well be one of the main architects of this strategy. In his roadmap—A User’s Guide to Restructuring the Global Trading System—he argues the dollar’s strength hampers U.S. competitiveness, pitching bold moves such as a “Mar-a-Lago Accord” to engineer its decline.
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