> the devaluation of the dollar is an extremely tricky situation for the US
For many, the revaluation of the dollar is actually the scary scenario.
See for instance this (maybe too) subtle analysis from Yanis Varoufakis:https://unherd.com/2025/02/why-trumps-tariffs-are-a-masterpl...
Though I agree with dollar revaluation also causing problems, I find approximately zero to agree with in that article. Low dollar value hurts me today, not the elites as this article claims. Low dollar value does little to hurt the elites whose wealth is managed to ride that out without impact. And in particular tariffs hurt working people, not the elites. We have been through this a century go, it's one of the better understood things in economics. The pain doesn't start today with the tariffs, it starts next year.