Donald Trump is escalating his threats to increase tariffs on imports if he wins a second term in the White House, reviving fears of renewed trade wars that hit the global economy during his presidency.
On Saturday, Trump went further, promising tariffs of 100 per cent on imports from countries that were moving away from using the dollar — a threat that could engulf many developing economies too.
“I’ll say, ‘you leave the dollar, you’re not doing business with the United States. Because we’re going to put a 100 per cent tariff on your goods,’” he said at a rally in Wisconsin.
“If we lost the dollar as the world currency, I think that would be the equivalent of losing a war,” he told the Economic Club of New York on Thursday.
So his plan is to get the rest of the world off of the dollar asap.
His only tool seems to be tariffs. It is his “hammer” and everything looks like a nail to him. He doesn’t care how trade wars hit the poor and middle class the hardest and jack up the cost of living. It is bad enough that they are jacking up the cost of chinese ev cars while at the same time saying we need to go to ev cars by 2035.
Oh joy. I always wondered what it would be like to live in a pariah state.
Bruh if he actually does this shit (he likely won’t; this is just rhetoric for votes) he would genuinely be the harm reduction candidate.
Unironically this would be a great thing. Most manufacturing happens in BRICS nations anyway; countries would speed up dedollarisation if the US is this desperate.
