Trump threatens 100% tariffs on countries that abandon dollar
As de-dollarization moves forward, the Republican candidate has vowed to make it too costly for countries to stop using the U.S. currency.
Republican presidential candidate Donald Trump is determined to put the brakes on de-dollarization. This is precisely when the dollar's dominance as the global reserve currency is under threat as a result of geopolitical shifts and efforts by China, Russia and their allies to end the dominance of the U.S. currency.
"If you leave the dollar, you will not do business with the United States because we are going to put a 100% tariff on your products," Trump said at a rally on Saturday. What the candidate has in mind, so far, is to impose export controls, currency manipulation charges and tariffs on any country that opts for a currency other than the dollar for bilateral trade.
