A new study of the U.S. economy from the Coalition for a Prosperous America shows the U.S. dollars is overvalued by 27 percent. CPA CEO Michael Stumo says if the U.S. dollar valuation would be lowered from that rate over six years, it would lead to many more jobs and an estimated $1 trillion in additional gross domestic product.
He says when the dollar is strong it makes U.S. exports more expensive for our foreign customers and other country’s goods cheaper. Stumo says besides using tariffs to get fairer trade, President Trump should also address the dollar valuation problem.
Stumo says the world economy would be in better shape because global trade would be balanced if the overvalued U.S. dollar was brought down.
Stumo says they’re sharing their study results with the President and Congress but says it’s a bit of an uphill battle as there’s a lack of understanding as to what impact the overvalued dollar is having on the U.S. economy.
