U.S. Foreign Exchange Policy—The Trump Administration and the Dollar | Center for Strategic and International Studies

U.S. Foreign Exchange Policy—The Trump Administration and the Dollar | Center for Strategic and International Studies: The Trump administration has pursued a unilateralist and bilateralist vision for foreign exchange policy, vastly different from the multilateralist approach of its predecessors over the prior 25 years. Treasury secretaries in the Clinton, Bush, and Obama administrations avoided commenting on currency markets, and when forced to do so simply backed a “strong dollar.” This gave administrations the moral high ground to criticize others, especially Japan, when they sought to weaken their currencies. That high ground is gone.