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Two-thirds of Americans think Trump tariffs will lead to higher prices, poll says
(www.theguardian.com)
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this post was submitted on 26 Nov 2024
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Not as long as virtually all commodities trade in USD and USD remains the world's reserve currency. I do get your broader point about any "revenue" raised by tariffs.
The next 4 years in the US are going to bring instability to the forefront.
US debt to GDP ratio is already an insane 120% . At some point along this path of ever increasing debt, people are going to see that USD is no longer safe and choose other currencies, or possibly crypto. Bank runs tend to happen all of a sudden when no one expects it. The same situation could theoretically happen in the US.
The reserve dominance shouldn't be relied upon when we could simply raise a small amount of revenue with taxes on the wealthy to balance the books.