Donald Trump has made it clear that one of his top goals is to maintain the dominance of the US dollar as the global reserve currency.

When he was running for president in 2024, Trump promised he would punish any country that sought alternatives to the US currency by hitting them with sky-high tariffs.

“Many countries are leaving the dollar. They’re not going to leave the dollar with me!”, Trump vowed at a campaign rally. “I’ll say, ‘You leave the dollar, you’re not doing business with the United States, because we’re going to put 100% tariff on your goods’”.

Since Trump has returned for his second term as US president, however, his tariffs and trade war have actually accelerated the decline of the dominance of the US dollar, not slowed it.

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