The newly elected U.S. government has set an ambitious agenda aimed at boosting productivity and restoring long-term economic strength. Central to this vision is the idea of "Making America Great Again," which envisions a nation not only capable of producing competitive goods and services domestically but also thriving in international markets.

To achieve this, the government aims to tackle the U.S. trade deficit and reshape its foreign trade dynamics through two key strategies.

The first strategy centers around imposing import duties on countries with protectionist policies that unfairly restrict U.S. products. By doing so, the administration hopes to level the playing field, ensuring fair trade practices.

The second strategy, however, presents a far more complex challenge: reducing the value of the U.S. dollar to make American goods and services more attractive abroad.

While a cheaper dollar might seem like an ideal solution for boosting exports, its implementation could be fraught with difficulties. Unlike smaller nations that can more easily devalue their currencies, the U.S. dollar has a unique role in the global economy. Its status as the world's primary reserve currency means that any efforts to devalue it could be counteracted by foreign governments accumulating more dollars for their reserves, undermining the........

© International Business Times