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President Donald Trump’s threats to upend international trade and disrupt global alliances have triggered doubts about whether the dollar’s dominance will fade.

“I’m very sympathetic to the case that it is an exorbitant burden rather than an exorbitant privilege,” said Oren Cass, the founder of the right-leaning think tank American Compass and an ally of Vice President JD Vance and Secretary of State Marco Rubio. “It is certainly good for Wall Street and financial markets, but that has not proved to have a correlation with what is good for most American communities and typical American workers.”

“When I hear people say: ‘Well, we’re seeing potential weakening of the dollar and we’re worried that will reduce the dominance of American financial actors,’ I am not especially disappointed,” he added.

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