Will Crypto Save the Dollar?
Trump’s tariff threats and aggressive trade tactics are bound to accelerate efforts to challenge the dollar’s status as the world’s reserve currency. But his push for privately issued stablecoins might be his best chance to maintain the dollar’s dominance without having to embrace multilateralism.
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LONDON – US President Donald Trump’s aggressive trade strategy will soon face a fundamental contradiction: imposing tariffs and rejecting multilateralism in the name of protecting American jobs clash with his stated goal of maintaining the dollar’s role as the world’s dominant reserve currency. Something will have to give, and the dollar – despite its current strength – will most likely take the hit.