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Restructuring the Global Trading System: A User's Guide

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This November 2024 user's guide from a former Hudson Bay strategist, now Chairman of the Council of Economic Advisers, analyzes potential strategies for restructuring the global trading system, focusing on tools available to a hypothetical second Trump administration. The author examines the use of tariffs and currency policy to address perceived economic imbalances rooted in dollar overvaluation and to improve the competitiveness of American industry. The guide discusses the economic and financial market consequences of these policies, including inflation, trade flows, and volatility, while also considering methods to mitigate adverse effects. It explores both unilateral and multilateral approaches, such as potential currency agreements, and the interplay between trade, national security, and the dollar's reserve status. Ultimately, the piece aims to understand the financial market ramifications of significant shifts in trade and financial policy, without advocating for specific actions. 

For details, follow the link below to listen the podcast at Spotify

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