Why Does Donald Trump Want A Weaker US Dollar?

So said Donald Trump in a recent interview, reflecting the conventional wisdom in the United States that a strong dollar and weak yuan is destroying the US manufacturing industry.

Trump is correct to point to a strong dollar as one of the causes of US manufacturing becoming increasingly less competitive. The historic strength of the dollar – the ICE US dollar index, a leading global benchmark tracking the value of the greenback internationally, has soared nearly 13% since July 2021 – is responsible for making American goods much more expensive on global markets. It is also bad for multinational companies which earn profits in foreign currencies abroad as it becomes more expensive for them to convert their foreign profits into dollars.

US and Ukraine call for 30-day ceasefire following Saudi talks

The U.S. will also "immediately lift" its pause on intelligence sharing and "resume security assistance to Ukraine," the countries said in a joint statement.

The U.S. and Ukraine "took important steps toward restoring durable peace for Ukraine," the statement said.

"Ukraine expressed readiness to accept the U.S. proposal to enact an immediate, interim 30-day ceasefire, which can be extended by mutual agreement of the parties, and which is subject to acceptance and concurrent implementation by the Russian Federation," the statement said. "The United States will communicate to Russia that Russian reciprocity is the key to achieving peace."

Secretary of State Marco Rubio, who led the U.S. delegation in Jeddah, said the ceasefire proposal will be delivered to Russia "directly through multiple channels."

"The offer is to stop the shooting. The goal here is, the only way out to end this war is to negotiate out of it. There's no military solution to this war," Rubio said during remarks to reporters in Jeddah following the talks. "Before you can negotiate, you have to stop shooting at each other. And that's what [President Donald Trump] has wanted to see, and that's the commitment we got today from the Ukrainian side, their willingness to do that, obviously."

"Our hope is that the Russians will say yes," Rubio added, saying, "The ball is now in their court."

If Russia does say no, "then we'll unfortunately know what the impediment is to peace here," he said.

Ukrainian President Volodymyr Zelenskyy said Ukraine "accepts this proposal and considers it a positive step."

"We are ready to take this step, and the United States must now convince Russia to do the same," he said in a statement. "If Russia agrees, the ceasefire will take effect immediately."

"The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things," Rubio said on Monday ahead of the talks.

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