Odaily Odaily Ulrich Leuchtmann, a foreign exchange analyst at Commerzbank, said that if the Trump administration turns to sanctions when tariffs fail, the dollar could lose its global dominance. If the United States exerts economic pressure on other countries through sanctions, the cost of using the dollar in international payment transactions will become too high. He said that the dollar would then lose its dominance as an international payment method. In the medium and long term, the dollar may also lose its dominance as a reserve currency. "The consequence could be a significant weakening of the dollar."