The last six weeks have been bumpy for the world economy. US President Donald Trump’s attempts to upend the global trade system with a range of tariffs have stunned allies and rivals alike. Markets have swooned and uncertainty abounds. But are the tariffs simply a bargaining chip towards a different, more dramatic plan – the devaluation of the dollar? Business Beyond considers the facts.
For more from the experts we spoke to:
• Mark Sobel, US Chairman at Official Monetary and Financial Institutions Forum and former senior US Treasury official – https://www.brettonwoods.org/person/mark-sobel
• Judy Shelton, senior fellow at the Independent Institute and former Trump economic advisor – https://www.independent.org/person/judy-l-shelton/
• Richard Koo, chief economist at Nomura Research Institute, former Japanese government economic advisor – https://www.csis.org/people/richard-koo
• Jared Bernstein, Former Chair of the Council of Economic Advisers of United States, 2023-2025 – https://en.wikipedia.org/wiki/Jared_Bernstein
CHAPTERS:
00:00 Introduction
01:37 The elusive Mar-a-Lago Accord
04:15 The value of devaluation
11:40 The Manufacturing Mirage?
16:46 Back to Mar-a-Lago
21:41 Conclusion: Economic culture wars
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