Trump’s Trade War Undermines the Dollar’s Global Reserve Status

Trump’s Trade War Undermines the Dollar’s Global Reserve Status

Donald Trump is famously hostile to US trade deficits. He believes not only that these deficits harm the US economy, but also that they are clear evidence of foreigners’ economic mistreatment of Americans. Almost as famously, economists disagree with Mr. Trump. Responding to his countless complaints about trade deficits, economists have spilled oceans of ink — including at AIER — to explain that US trade deficits are not the problem that Mr. Tru…