Speakers included a formal consultant from the office of the u. S. Trade representative and member of the White House Council of economic advisors. From the American Enterprise institute, this is two hours. Well start again. Good morning, ladies and gentlemen, im glad youre with us. Im alex pollock from the r street institute. And we welcome you on trade deficits and the Trump Administration. It goes without saying debates about trade, tariffs, other barriers to trade, balance of trade and payments and shifts in foreign exchanges, whether the flee of gold in old bays or reserves nominated in fiat currencies now have a long and controversial history in domestics and in politics. These debates feature the famous and essential contrast between the interests of producers on one side and those of consumers on the other, abiding asymmetry and pressures for adjustment between countries with persistent deficits like the u. S. Versus those with persistent surplus, germany for example. Naturally
Us. Im alex pollock from the r street institute. And we welcome you on trade deficits and the Trump Administration. It goes without saying debates about trade, tariffs, other barriers to trade, balance of trade and payments and shifts in foreign exchanges, whether the flee of gold in old bays or reserves nominated in fiat currencies now have a long and controversial history in domestics and in politics. These debates feature the famous and essential contrast between the interests of producers on one side and those of consumers on the other, abiding asymmetry and pressures for adjustment between countries with persistent deficits like the u. S. Versus those with persistent surplus, germany for example. Naturally throughout this is the desire of politicians to get and remain in office. Political economy is certainly the accurate term here. Discussions of trade deficits cannot be divorced from the International Monetary system, levels of Exchange Rates or role of the u. S. Dollar as the d