Does he think a tariff is a ban? Is that why he’s always so confused when people describe them as being like a tax around him?
Probably? We're talking about a guy who can't understand the difference between seeking political asylum and escaping from an insane asylum.
It's such an idiotic ploy. It would basically force countries to choose whether they do business with US or China, and China is the bigger and more essential partner for most countries. Meanwhile, there's zero chance that China would go back to using the dollar because that would give US huge leverage over China. This is basically going to be a redux of the west trying to isolate Russia economically where the scheme failed out of the gate when China and India refused to play ball.
Well hopefully they wont try it again, but there were examples of what US did to countries trying to dedollarize: Libya and Iraq
That works against small isolated countries, but now there's BRICS backed by Russia and China.
Want countries to re-dollarize, you have to incentivize the, which probably means making the US the dynamic yet stable economic it was. Punishing countries, how laughable.
I think that ship has sailed though, as globalization has caught up yet again.