Does Trump really want a weaker dollar?

Overturning three decades of American policy will not be painless

“A strong dollar is in our national interest.” The simple message from Robert Rubin, who became treasury secretary in 1994, marked a turning point. For decades, American policymakers had complained about how the weak currencies of their country’s trading partners had made life difficult for domestic manufacturers. Since then, they have either repeated Mr Rubin’s maxim, or avoided discussing the appropriate level for the greenback altogether.

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