That's happening. The rest of the world is moving away from the US as a trading partner. Trump is just too flaky to deal with. Canada now exports oil to China instead of the US, for example. The EU is moving towards self-sufficiency in financial services.
What the Trump Administration does not get is that the US is no longer central to the world economy. Everyone else has a lot more productive capacity now. Trump is running on a 1980s world view.
> Canada now exports oil to China instead of the US
Lol >90% of our oil exports still go to the US. China could be good to grow our exports but it's not replacing the US.
https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/ma...
Exactly, the move away from the US is both fast and slow. Fast on the things that could be swapped for an alternative straight away/short term. Slow in that there are something that will take decades to move away from and are actively being worked on but quietly.
This is the problem of the 2nd Trump admin, the first time was considered a fluke incident and didn't pan out so bad as there was a lot of longer term folks keeping things sort of in check. The 2nd time, it was apparent that there is a significant enough faction of the US population that will ensure this kind of power structure keeps coming back. Trump is but the first of many to operate like he does. There will be more like him.
I must warn some people, who knows which side of politics that will come from. Don't think 'your side' is above it, this kind of rhetoric and rot and creep in a lot quicker than one would think.
The US is desperately selling currency so it can buy the Yen so that Japan doesn’t ditch its US treasuries.
Investing in your customer so they buy your product seems to be the signature move as of late.