Most analysts believe that Donald Trump’s actions may deprive the US dollar of the world dominance. Thus, some representatives of the White House are really concerned about the future of the US national currency. This group is headed by Treasury Secretary Steven Mnuchin.
They suppose that a large number of sanctions imposed against most countries in the world could undermine the primacy of the US dollar. Sometimes, it even seems that the US president’s aim is to weaken the US currency to such extent that it will inevitably lose its status of the main currency. Former National Security Advisor John Bolton wrote in his book that Steven Mnuchin opposes Donald Trump’s stance on the issue. “Mnuchin argued that the constant use of sanctions, and the pressure we put on the international financial system would result over time in the tool’s being weakened as states impacted by the sanctions sought to evade them,” Bolton says in his book. At the same time, Donald Trump believes that the Treasury Secretary is heavily focused on the US dollar primacy and almost ignores foreign policy issues. However, Steven Mnuchin said that the excerpts of the book he reviewed "are full of lies and factual inaccuracies". He also added that “the Treasury Department has deployed our sanctions authorities with unprecedented effectiveness to address a broad range of threats.”