Peak America is over
https://www.telegraph.co.uk/business/2025/05/14/peak-america-is-over-donald-trump-dollar-trade-war/
Donald Trump’s trade war capitulation will not reverse the damage to the dollar’s supremacy.
Jeremy Warner:
What soon became abundantly clear with the escalating Chinese tariff war was that nobody was winning. Yes, if things had carried on as they were, China would have lost millions of jobs. But by the same token, the US would have faced empty shelves in its shopping malls and the prospect of many US manufacturers having to halt production because of a lack of Chinese components.
Once again, it fell to Scott Bessent, the US treasury secretary and one of the few members of Trump’s cabinet to talk any sense, to clear up the mess. Trump claimed that as the deficit nation, he held all the cards. It turned out to be the other way around. After two days of talks in Geneva, the US seems to have caved into virtually all of China’s immediate demands.
https://www.telegraph.co.uk/business/2025/05/14/peak-america-is-over-donald-trump-dollar-trade-war/
Donald Trump’s trade war capitulation will not reverse the damage to the dollar’s supremacy.
Jeremy Warner:
What soon became abundantly clear with the escalating Chinese tariff war was that nobody was winning. Yes, if things had carried on as they were, China would have lost millions of jobs. But by the same token, the US would have faced empty shelves in its shopping malls and the prospect of many US manufacturers having to halt production because of a lack of Chinese components.
Once again, it fell to Scott Bessent, the US treasury secretary and one of the few members of Trump’s cabinet to talk any sense, to clear up the mess. Trump claimed that as the deficit nation, he held all the cards. It turned out to be the other way around. After two days of talks in Geneva, the US seems to have caved into virtually all of China’s immediate demands.
My recent take:
Dollar collapse: The crisis is no longer just theoretical by VIVEKANAND JAYAKUMAR, The Hill - 04/28/25
https://thehill.com/opinion/5270094-trump-tariffs-dollar-decline/
Dollar collapse: The crisis is no longer just theoretical by VIVEKANAND JAYAKUMAR, The Hill - 04/28/25
https://thehill.com/opinion/5270094-trump-tariffs-dollar-decline/