“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new Brics Currency, nor back any other Currency to replace the mighty US dollar or, they will face 100 per cent Tariffs,” he posted on Truth Social, his social media platform.
But a slew of destabilising economic measures the US president has unleashed or threatened present greater immediate challenges to the US economy and the stability of the dollar, according to Wendy Edelberg, a former chief economist at the US Congressional Budget Office (CBO) and Ben Harris who was, until recently, an assistant secretary for economic policy at the US Treasury Department.
Examples include abrupt and massive funding cuts and payment cancellations at key government departments, and high tariffs against friendly and hostile countries alike.
02:03
Trump says tariffs on Chinese imports will double to 20% and take effect on March 4
Trump says tariffs on Chinese imports will double to 20% and take effect on March 4
“Trump has brought budgetary chaos with extraordinary speed,” they wrote in The New York Times last month. “Those who have spent years scanning the horizon for risks of a fiscal crisis should fix their sights on the president’s malpractice.”
