Mar-a-Lago Accord, Schmar-a-Lago Accord

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The story "Mar-a-Lago Accord, Schmar-a-Lago Accord" was covered 12 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 12h ago

Mar-a-Lago Accord, Schmar-a-Lago Accord - Financial Times

Quick Summary:

Trump has threatened countries with tariffs if they abandon the dollar, but nothing could accelerate that process more effectively than reckless actions against our trading partners.

In response, an Accord would call for the US and its trading partners to intervene in foreign exchange markets to sell dollars for foreign currency in a bid to get the dollar down.

And that’s too bad, because a Mar-a-Lago Accord would be pointless, ineffectual, destabilising, and only lead to the erosion of the dollar’s pre-eminent role in the global financial system.