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‘The damage is done’: Trump’s tariffs put the dollar’s safe haven status in jeopardy
(www.theguardian.com)
this post was submitted on 12 Apr 2025
183 points (98.9% liked)
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The damage isn’t done yet… there is plenty more damage on the way.
I get that, but even if by some miracle, no more damage occurred, the damage this far, reputationally, is not fixable by a change only.
It looks like china is ready for a trade was in a way that the US is not. China doesn't depend on a USA supply chain and their exports there don't make a huge portion of their GDP. A lot of American goods need china as a supply chain partner. So inflation will be a big problem in the foreseeable future.
America is not just fighting with its competitors, it's fighting with its partners. Without partners, it has limited leverage. If the USA wanted to place sanctions on anyone now, they would struggle. Another war, they won't find allies.
Europe is planning alternative consumer payment options. China wants to end dollar hegemony, as well. BRICS are all on board with that. America will find it hard to throw its weight around with less ability to punish or reward.
That was Trump's primary directive all along. To tear down the US from being the prime economic/super power. He's just too fucking idiotic and self-absorbed to truly understand that's what he's doing.
they also cant use world bank, IMF to bully countries now.