De-Dollarization: The Idea of Undermining the US Dollar Is Dead
US President Donald Trump vowed to put an end to the de-dollarization initiative kick-started by developing countries to protect the dollar. The President threatened import tariffs on anyone trying to sideline the US dollar for trade. He also imposed tariffs on Canada, Mexico, and China, and warned other countries that they could be next. Also Read: De-Dollarization and the Privacy Debate: The Geopolitical Push for CBDCs The pressure mounted on developing countries by Trump is bringing the de-dollarization agenda to a screeching halt. Emerging economies are now considering using the US dollar for trade and pausing settling cross-border transactions in local currencies. “The idea of undermining the dollar is dead now,” said Trump to reporters at the White House. De-Dollarization: Tariffs Saves the US Dollar Source: MarketWatch Also Read: New Ripple XRP Price Surge to $3.40? What to Know Tariffs imposed on several countries are making them reconsider de-dollarization and use ...