@EvolLove It’s a common case that foreign firms compute prices in their domestic currency (because that’s what the costs they have to cover are denominated in), and set foreign prices by converting domestic prices at an exchange rate. Effectively, if the dollar falls, foreign goods become more expensive (which is a market mechanism which, like a tariff, is supposed to encourage trade balance). 1/

@EvolLove Of course the US, at a government level, if it doesn’t like terms of trade resulting from FX fluctuations or anything else, can impose tariffs (which would render Swedish steel even more expensive to US users in this scenario). We are free to do these things! (WTO etc are only as strong as the support of its most powerful backers, including especially the US.) Some things we might do are wise. Some are unwise. /fin