Former US President Donald Trump, who is running for the 2024 US presidential election on behalf of the Republican Party, promised on the 7th that it would increase the cost for other countries to give up the use of the US dollar. If other countries do not use the US dollar, they cannot do business with the United States, and the United States will impose a 100% tariff on the country's goods. Bloomberg reported that former US President Donald Trump promised at a campaign rally in the key swing state of Wisconsin on the 7th that it would make it too expensive for countries to give up the use of the US dollar and add new measures to his tariff policy: If you give up the US dollar, don't even think about doing business with the United States, because we will impose a 100% tariff on your goods. Before Trump made this statement, he had been discussing with his economic advisers for months on how to punish allies or opponents who seek to conduct bilateral trade in currencies other than the US dollar. Sources previously revealed that the options considered include export controls, currency manipulation charges, tariffs, etc.
Trump, who has long advocated protectionist trade policies, said the dollar has been "under major siege" over the past eight years. China, India, Brazil, Russia and South Africa discussed de-dollarization at a summit last year. Trump hopes that the dollar will continue to maintain its status as the world's reserve currency and reiterated this commitment at a rally last Saturday.
Data from the International Monetary Fund shows that although the dollar's dominance has weakened in recent decades, as of the first quarter of 2024, the US dollar still accounted for 59% of global foreign exchange reserves, followed by the euro, which accounted for nearly 20%.
Tuesday's presidential debate holds key
The report pointed out that Wisconsin is one of the most critical swing states in the campaign between Trump and his Democratic opponent, Vice President Harris. Both sides are vying for the support of working-class voters in the state who are uneasy about US President Biden's economic policies and attracted by Trump's populist appeal.
A Bloomberg/Morning Consult poll released last week showed Harris leading Trump by 8% in Wisconsin, her largest lead over Trump among seven key states.
In terms of national support, a New York Times/Scheinner College poll released on the 8th showed that Trump currently leads Harris slightly by 48% to 47%, but within the 3% error range. Trump and Harris will participate in a televised debate hosted by ABC on the 10th. This debate may change the situation of this evenly matched election.
The New York Times pointed out that the poll found that before the presidential candidate debate, Trump maintained his support, but voters were not sure whether they knew enough about Harris' position, and 28% of voters said they needed to know more about Harris' attitude.
Public account, encrypted Xiao Miaoy
