Trump's Dollar Strategy May Be Backfiring: Making European Travel Too Costly for Americans
Donald Trump’s approach, driven by tariffs aimed at weakening the dollar and boosting U.S. competitiveness, could lead to several outcomes. One potentially disliked effect may be his supporters facing higher costs during their European vacations this summer. Airlines are raising concerns about a worrying decline in demand from their critical U.S. customer base as evidence mounts that Trump’s restrictions on international commerce may soon impact ordinary Americans. Since President Donald Trump assumed office in January, the U.S. dollar has weakened relative to both the euro and the British pound, which contrasts with the steady appreciation of the dollar throughout Joe Biden’s presidency. During that time of dollar dominance, there was an extensive transatlantic shopping frenzy involving U.S. tourists, highlighted by throngs of American Taylor Swift enthusiasts flocking to Europe to see the artist during her Eras Tour performances last summer. An analysis conducted at th...