Did the dollar’s steep depreciation from 2002 to 2008 boost US growth?

Donald Trump now wants the dollar to depreciate against other currencies and wants to tax US imports. In other words, he wants to increase the prices of imported products. Could this be an effective policy? To find out, we look at what happened when the dollar depreciated from 2002 to 2008: if it was beneficial to the US economy, then Trump’s measures will be too. In particular, we examine the trends over the period 2002-2008 in: Exports and market shares; The substitution of imports for domestic production; Direct investment and other investment; Import prices and consumer purchasing power. The dollar’s depreciation from 2002 to 2008 had negative effects on the US economy: import prices rose, without this rise being offset by an improvement in foreign trade in volume terms or an increase in investment.