Well, your buying power would be crippled.
Just to add some insight:
Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.”
https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Fapnews.com%2Farticle%2Ftru...
So clueless.
The fact is that the trade imbalance is the largest single factor that makes the US dollar the world currency -- and also helps to keep the federal debt cheap. All of those countries that have a trade surplus with us send us lots of goods and in exchange they get lots of dollars. What do they do with them? They buy US-denominated securities, including treasury bonds. So many people and organizations around the world holding large reserves of US-denominated securities is what makes the dollar the world's default currency.
To the extent that he succeeds at "correcting" the trade imbalance, he'll undermine the dollar's status. And trying to bully countries into sticking with the dollar by threatening action that will make the dollar worth less to them is just... clueless. And that's assuming his actions to explode the debt while escalating financing costs doesn't result in enormous devaluation of the dollar, which would make it worthless rather than just worth less.
On balance I think I'm mostly glad that Trump is a moron, because if he weren't he would be really dangerous. On the other hand, if he had either a brain or the humility to listen to people who do, he might understand that he's trying to destroy what he's trying to control, and that winning that sort of game is losing. Probably not, though. He's amoral enough to be okay with ruling over a relative wasteland, because he and his will be better off.
This has been going on for a long time, the headline/summary make it sound like this is something new. Kurzgesagt did a recent video on this, How Nuclear Flies Protect You from Flesh-Eating Parasites
Sure, itâ(TM)s quite possible for two people to exchange offhand remarks about the local weather apropos of nothing, with no broader point in mind. It happens all the time, even, I suppose, right in the middle of a discussion of the impact of climate change on the very parameters they were discussing.
This place just isn't big enough for all of us. We've got to find a way off this planet.