The Mar-a-Lago Accord and Beyond

Graham Bird

World Economics, 2025, vol. 26, issue 2, 17-36

Abstract: In addition to policies focusing on trade, the Trump Administration has also proposed policies that will affect the international monetary system. The so-called Mar-a-Lago Accord envisages putting pressure on other countries to help reduce the value of the US dollar. The Mar-a-Lago Accord is loosely modelled on the Plaza Accord of 1985, but the world is a very different place in 2025. Trying to eliminate bi-lateral trade deficits is a misplaced policy, as is exclusive reliance on dollar depreciation to achieve it. The contemporary policies of the US Administration are likely to have significant, far-reaching and lasting negative effects on the nature and operation of the international monetary system and the world economy.

Date: 2025
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