Former NYT journalist: US tariffs are risky

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00:00The risks Trump is running with this plan, which has indeed gotten countries to come

00:07to him and bend their knee, and Donald really likes that, he very much is into this kind

00:12of power, are several.

00:15One risk is the U.S. may no longer have the dollar as the world reserve currency.

00:21If that were to happen, it would be devastating and a one-time downward adjustment, but a

00:26very big adjustment to the United States economy.

00:29Secondly, countries that are unhappy about this could create their own free trade zone

00:35and exclude the United States from it, which would similarly be damaging to the U.S., especially

00:41its great and growing success in exporting services, which are not being tariffed at the

00:47moment, rather than goods.