The economist predicted a weakening of the dollar in global trade calculations

There is a gradual decline in the role of the US currency in international settlements amid changes in the global trading architecture. On April 10, Georgy Ostapkovich, Director of the HSE Center for Economic Studies, told Izvestia.

Earlier, on April 9, Jose Luis Escriva, a member of the governing council of the European Central Bank and head of the Bank of Spain, noted that the US tariff policy had led to the implementation of "the worst economic forecasts" and could threaten international investors' confidence in the dollar, the Financial Times newspaper reported.

"Although current statements still remain at the level of rhetoric, if the policy of the Donald Trump administration is implemented in such a straightforward manner, the weakening of the dollar will be an inevitable consequence," Ostapkovich explained.

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According to him, the current international trade system, in which the dollar occupies a dominant position, may face serious violations. States will begin to create new trade unions, as it becomes unprofitable to do business with the United States, taking into account new duties.

The expert also did not rule out the formation of an unexpected trade union between the EU and China.

"I do not rule out the possibility of a paradoxical trade union between the EU and China. These are two fairly powerful trading blocks. Moreover, China can also significantly increase exports to Russia, possibly even reducing prices in a competitive struggle. This is especially true for the automotive market, where there is now a 30-40% margin on cars supplied to Russia compared to Europe and China itself," said the economist.

The expert stressed that the dollar's share in international settlements is already showing a steady downward trend.

"The dollar is still in the lead, but the weakening process has already started, and it cannot be stopped. This will not be a disaster for America itself — as Trump has repeatedly stated, the priority is the welfare of the United States, not the status of the dollar as the world currency. But the fundamental trend towards the weakening of the dollar is already a fait accompli, which should not be doubted," concluded Ostapkovich.

On April 9, the American leader announced that the duties imposed by the United States bring about $2 billion in profit to the state treasury. In addition, Trump added that more than 70 countries have expressed their willingness to negotiate with Washington on these tariffs.

At the same time, it was reported that the US authorities increased import duties on goods from China to 104%. It was noted that the tariffs were imposed because China has not lifted its retaliatory measures in the field of trade.

Chinese Foreign Ministry spokesman Lin Jian said on April 7 that the US abuse of duties is economic bullying, damaging not only other countries, but also Washington itself.