Economic analysts and commentators have raised concerns about the impact of the Trump administration's economic policies on the United States and its allies. Adam Posen highlights that these policies will primarily harm the U.S.'s closest allies while leaving China relatively unaffected, despite U.S. officials' intentions to change China's behavior. Posen also notes that the Trump view underestimates the benefits the U.S. has received from its postwar economic order and the costs it incurs by altering its global role. Additionally, since the April 2 tariff announcements, there has been a reversal in the correlation between U.S. interest rates and the dollar, suggesting factors beyond daily economic news are influencing the dollar's decline. Other experts, including Wally Adeyemo and Joshua Zoffer, emphasize that dismissing allies and claiming victimhood overlooks the advantages the U.S. gains from the dollar's dominant global role. Journalist Ben Chu warns against taking globalization for granted, particularly for the U.S. Meanwhile, Nick Clegg argues that the Trump administration should abandon the belief that "America First" must translate into "America Everywhere," and that Europeans should accept the U.S.'s different strategic trajectory driven by its distinct worldview.
“Ever since the Trump administration’s April 2 tariff announcements, the correlation between U.S. interest rates and the dollar has reversed, indicating that something other than day-to-day economic news is driving the dollar down,” writes @AdamPosen. https://t.co/SnkKQLvFJ4 https://t.co/ynrihvG6ba
The Trump administration “should cease believing that ‘America First‘ must be ‘America Everywhere,'" @nickclegg argues. "And Europeans should stop moping about the fact that the U.S. has chosen a very different trajectory driven by a different worldview." https://t.co/NJ30p78VRP
Trump’s economic policy will cause the most harm to the United States’ closest allies, writes @AdamPosen. Meanwhile, “China, the country whose behavior most U.S. officials want to change, will likely be the least affected.” https://t.co/KfS96d1F5r