On Saturday, President Trump told supporters in Wisconsin that he will impose a 100 percent tariff on goods from countries that abandon dollar-based trades.
This follows years of Joe Biden and Democrats weakening the US dollar on the international stage.
This comes after years of foreign powers led by China’s Xi Jinping organizing economic trade policy with emerging markets in currencies other than the US dollar.
Donald Trump pledged on Saturday to make it too costly for countries to shift away from using the US dollar, adding a new pillar to his tariff platform.
“You leave the dollar and you’re not doing business with the United States because we are going to put a 100 per cent tariff on your goods,” the Republican presidential nominee said at a rally in the battleground state of Wisconsin.
The statement follows months of discussions between Trump and his economic advisers on ways to penalise allies or adversaries who seek active ways to engage in bilateral trade in currencies other than the dollar.