Former President Donald Trump has expressed concerns about the potential loss of the U.S. dollar’s status as the world’s dominant reserve currency.
The US president describee it as a catastrophe greater than losing a major world war.
In a July 2025 Cabinet meeting, he stated, “Losing the dollar standard would be like losing a war, a major world war.
“We would not be the same country any longer. And we’re not going to let that happen.” He said
Trump has been consistent with his decision to protect the dollar as a giant currency in the entire world.
He has also made similar remarks in earlier years, such as in 2023 and 2024, warning that a dollar collapse could be the “greatest defeat in 200 years” and equate to losing a war.
Trump’s statements reflect his belief that dollar dominance is critical to U.S. economic and geopolitical power, allowing the country to finance deficits at low costs and exert influence through sanctions.
To protect this status, he has proposed aggressive measures, including 100% tariffs on countries moving away from dollar-based trade.
This will particularly be targeting BRICS nations (Brazil, Russia, India, China, South Africa) exploring alternative currency systems.