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In September 1985, finance ministers and central bank governors of the G-5 countries (France, Germany, Japan, United Kingdom, and United States) met in the Plaza Hotel in New York City and announced their agreement to act together to depreciate the US dollar. That agreement is often cited as a prime example of successful US leadership on international monetary issues and of international cooperation to address those issues.

The dollar has recently reached a new high against the major foreign currencies. It could well appreciate further in response to US imposition of tariffs on a wide range of imported products and potentially services. Tariffs and other policy actions by the new US administration has disrupted the post-War II international economic and financial architecture that has evolved over the past 80 years. US tariffs could plunge the US and global economies into recession.

The Study Group will first discuss the Plaza Accord.

·        The conditions that led to the Accord.

·        The content of the Accord.

·        The consequences of the Accord.

·        The success or a failure of the Accord.

The Study Group will next consider the possible replication of the Plaza Accord in the next year or so by the Trump administration.

·        The economic and financial developments that might lead the US authorities and their partners (which partners?) to consider a Mar-a-Lago Accord.

·        The content of such an Accord.

·        The direct or indirect impact of an Accord on the US and global economy and the international economic and financial architecture.

About Edwin (Ted) Truman: /centers/mrcbg/about/fellows/research-fellows#edwin_truman

This study group / discussion is open to all HUID holders. Registration is not necessary.

M-RCBG welcomes individuals with disabilities to participate in its programs. To request accommodations or ask questions about access provided, please email: mrcbg@hks.harvard.edu