'Trade wars in the offing'

This is apropos a Business Recorder editorial "Trade wars in the offing" carried by the newspaper on Saturday. It argued, inter alia, that a weaker currency is generally weaker currency is regarded as an advantage for a country insofar as the prospects of its exports are concerned. "A country's exports can gain market share as its goods get cheaper relative to goods prices in stronger currencies. But there are always two sides of the coin. A weaker dollar could be good for some and relatively bad for others," according to the newspaper.
According to US Treasury Secretary, Steven Mnuchin, US is open for business and 'welcomes' a weaker dollar. He argues that a weaker dollar will benefit his country. This senior Trump administration official seems to have ignored the affirmation of an agreement among G7 countries that excess volatility and disorderly currency moves could hurt global economic activity. The finance ministers of the G7 countries in May 2016 had therefore re-affirmed existing exchange rate pacts.