Trump has threatened to slap tariffs on the EU but there the deficits are the other way around. The EU sells less to the USA than it exports to them.That's only true if Trump weren't the president. He's so obsessed with the US trade deficit that he has started the tariff war. In order for the Dollar to be used for trade, you have to encourage people to see the dollar is safe. That's not what Trump is doing. He has already upset the G7 countries, including the UK, Canada, Germany, France and the EU. Who is going to stand with the USD as long as Trump is at the WH?
The BRICS have already setup an alternative to the international settlement system with their own digital currency. I can easily ask for quotes and pay in RMB instead of USD.
Expect the BRICS and JAPAN to dump US Treasury bills at record levels.
He is an irrational clown.
Of course the really stupid part of his clowning is that now the dollar has strengthened making it much harder for the US to export its goods - threatening jobs for them and the rising cost of imports will in the end fall onto the people in the US who want to buy imported goods. He will kick up inflation.