Reich: US Tariffs Hasten Global Influence Decline
Robert Reich argues that President Trump’s tariffs threaten America’s global economic dominance by undermining the dollar’s status as the world’s reserve currency. This shift, evidenced by investors withdrawing from U.S. Treasury bills, could lead to significant wealth loss and diminished American influence. The tariffs disproportionately harm lower-income Americans, acting as a regressive tax that increases the cost of goods. Reich questions the administration’s rationale for policies that accelerate the erosion of this crucial American economic advantage.
John Q. Hosedrinker