Official announcements from the US Department of Commerce or US Trade Representative

Trump Vows 100% Tariffs on Countries Abandoning US Dollar as Reserve Currency if Elected

Oct 15, 2024, 07:24 PM

Former President Donald Trump has announced that he will impose 100% tariffs on countries that abandon the US dollar as the world's reserve currency. Trump emphasized that if elected, the dollar would become the most secure and strongest reserve currency ever. He stated that countries would back down from abandoning the dollar due to the threat of these tariffs. Trump's comments were made in a series of statements, including an interview with John Micklethwait at the New York Economic Club, where he likened losing the dollar as a reserve currency to America losing a war. Experts warn that such tariffs could lead to price hikes and angry allies.