Free market advisers to Donald Trump are bracing for a renewed effort by protectionist allies of the former president to devalue the dollar, a measure critics say would increase prices and harm living standards.

Supply-side conservatives are worried about a renewed focus by Trump on the dollar, as well as by reported plans from former U.S. Trade Adviser Robert Lighthizer for devaluing the dollar through administrative action. The purpose of devaluing the dollar would be to slash the U.S. trade deficit and reshore manufacturing jobs, both top goals for Trump in a second term.

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