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To me, it would not much sense to go for a devaluation of the USD, specially because of how do many countries see that currency as a store of value (at least in the mid term, it is not one in the long term). Though, during these recent debates and appearances Trump has had in public, he has shown his ignorance on how tariffs are supposed to work and how they are not going to benefit the United States people by taking money from China, but rather force businesses in USA to pay more to the State for the same importation goods they all need from abroad.
If tariffs are that difficult to understand for Trump, then I would not be surprised in the case he got convinced that devaluating their own currency would be good. Someone could put the case in front of Trump that devaluation would increase the competitivity of the USA to export more and more companies would be encouraged to keep their facilities in the continent, rather than moving to China. However, the secondary and unexpected effects are to be taken seriously.
