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Trump vows 100% tariff on countries that shun the dollar

Trump threatens 100% tariff to defend dollar’s global dominance: Implications for India and beyond - Times of India

https://timesofindia.indiatimes.com/world/us/trump-threatens-100-tariff-to-defend-dollars-global-dominance-implications-for-india-and-beyond/articleshow/113177036.cms

US News: Donald Trump announced a plan to impose a 100% tariff on goods from countries that move away from using the US dollar in international trade. This str

Trump threatens 100% tariff to defend dollar’s global dominance: Implications for India and beyond - Times of India

29 comments

yogthos

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I really hope he does this. It would force countries to choose between G7 and BRICS, and the latter is where pretty much all the manufacturing happens making it indispensable. This would play out exactly the same way as trying to shut Russia out of the global financial system did, but on a far bigger scale.

The mere fact that Trump is floating this idea is an indication of panic as well. If the US wasn't worried then there would be no need to use coercive measure to keep people from fleeing dollar based system. These kinds of mob tactics that will further convince countries that they need to move off the dollar as quickly as possible.

LeniX

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I really hope he does this.

Critical support for Trump and the US' self-inflicted damage.

SadArtemis

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Agreed, honestly my reaction to seeing this was wondering- at what point does Trump deserve our (extremely critical and entirely circumstantial) support? Here he is basically threatening to free the world economy from the US empire.. lol

yogthos

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lol right, like don't threaten me with a good time

bazingabrain

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fire86743

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the us is winning the currency war

Proof?

bazingabrain

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well joe biden, the ghoul he is, has fucked the global south by raising interest rates, so countries owing debt in dollar suddenly have to raise even more money to pay back that debt thus contributing to usage of the dollar. I'm probably skipping over a lot of shit and others have laid it out better than i did, may I add that I'm not happy the US is still extracting value from its monopoly of currency trade, i would love to see that place burn, sadly it seems to me that the dollar is still winning the race.

SadArtemis

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Sounds like a short-term "win" which will only further cement and worsen the long-term repercussions IMO... the thing is, the changing of the world economic system is not a race, and the more the US cracks the whip to shore up its decline, the more intolerable and totalitarian its economic system becomes, the more the foundations of the system crumble and the resolve of the rest of the world to free themselves from it strengthens.

bazingabrain

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what really scares me is how short term is understood here, because is it « short term that will eventually crumble within my lifetime » or « short term measured on the scale of human history». Basically I’m anxious that the US will still own monopoly on currency trade while I’m alive, I’d really like to see what happens when it loses grip and is forced to reckon with competitive currencies that don’t bully and brutalise millions with tarifs and sanctions, actually terrorise is more apt if we’re being real. What I’m curious about though is how much room the ghouls in charge are willing to give to the Cheeto man, they MUST know that doing this is fucking stupid and will utterly destroy the US dollar’s image worldwide, on the other hand there seems to be widespread brain rot and kool aid consumption amongst North American academics and officials so who knows?

cayde6ml

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I get the feeling that even though it will unfortunately be years, if not decades before the Amerikkkan empire collapses or is destroyed, I think/hope it will come sooner than any of us think.

This seems like one of those "decades' worth of history happens in weeks" moments.

bazingabrain

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TheWolfOfSouthEnd

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Thats far too complex for those on the right

ChuzaUzarNaim

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I salute comrade Trump for his contributions to the vital process of dismantling American hegemony.

miz

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川建国

ShinkanTrain

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Is this what being pandered to by a policitian feels like?

Vampire

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You think you are isolating various countries.

You are isolating the USA.

bennieandthez

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lol critical support for trump

Aquilae

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Is trump the "harm reduction" candidate at that point lmao

culpritus

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is-this Is this harm reduction?

RedWizard

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Congratulations you just sanctioned yourself.

nocturnedragonite

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🙏🏿🙏🏿🙏🏿🙏🏿

BRINGit34

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So I have to do some imports from China every now and then. Deal with customs and such.

And I have to say the 25% tariff is on pretty much everything from China and it is insane. So if I get quoted 600 for shipping I guarantee half of that is customs.

Of course you can get an exemption if you're loaded I'm sure. But for the average person buying goods it is nuts.

Oh and the funny thing is most things are still way cheaper than their American counterpart with the tariff.

Rom

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I'm sure that will get them to move back to the dollar.

SeeingRed

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I assume this is an attempt to re-shore manufacturing, especially if as many of us expect, many countries choose to take the tarrif hit so that they can keep trading in their own currency between eachother.

It's a strategic bet, bring home some manufacturing while hurting those who defy the empire. It'll certainly reduce the availability of certain goods in the US as countries choose other markets. This likely would help to encourage some level of reshoring, or at least increase pressure from the ruling class to force more coups of other countries to force them back onto the dollar system.

Whether this will backfire or not will is something that is very hard to predict.

aStonedSanta

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Aka. It’s bad policy.

UlyssesT

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Wasn't he also peddling internet funny money? What happens if some credulous asshole (or a nation ran by a credulous asshole) wants to use internet funny money instead of the dollar?

cayde6ml

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Don't give Elongated Muskrat any ideas

SadArtemis

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Maybe we should give him funny ideas. Imagine seeing those ugly bored apes and dogecoin being the future of the dollar.

The added bonus is, alongside the trainwreck I assume it'd be, it would be less of an eyesore than the current toilet paper money printed with faces of dead genocidaires, war criminals, and slave owners.

Rondomi

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Would other higher-ups actually let him do something this foolish?

cayde6ml

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Apparently so

TheWolfOfSouthEnd

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The art of the deal.