The ‘User’s Guide’ plan from Stephen Miran has taken some big hits; boxer Mike Tyson: everyone has a plan until they’re punched in the face

The great boxer Mike Tyson and once said that everyone has a plan until they’re punched in the face. Similarly, the Trump administration had one for rebuilding the world economy with tariffs. 

The plan was Stephen Miran’s A User’s Guide to Restructuring the Global Trading System, which must have been the most-viewed document by the financial world over the last six months. 

Stunningly ambitious, it helped earn its author a gig as chairman of the president’s Council of Economic Advisers, birthed the concept of the “Mar-a-Lago Accord,” and was widely taken as the road map for Trump 2.0’s bid to reshape the world using tariffs.

https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/638199_A_Users_Guide_to_Restructuring_the_Global_Trading_System.pdf

All of that said, the White House wanted a weaker dollar and has got it. 

A Mar-a-Lago Accord of the kind envisaged in the “User’s Guide now looks unachievable.

John Authers Bloomberg 25 april 2025

https://www.bloomberg.com/opinion/newsletters/2025-04-25/trump-plan-where-s-mike-tyson-with-economic-advice-when-you-need-him


Tillbaka till Rolfs länktips 25 april 2025

https://englundmacro.blogspot.com/2025/04/rolfs-lanktips-25-april-2025.html





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