Trump administration weighs steps to bolster Dollar’s global role amid rising Chinese competition

The Trump administration is reportedly exploring new measures to reinforce the U.S. dollar’s dominance in the global financial system, according to the Financial Times.

White House and U.S. Treasury officials have discussed strategies to expand the use of the dollar in developing economies, including Argentina, Lebanon, and Pakistan, sources told the newspaper. The discussions come as Washington grows increasingly concerned about Beijing’s efforts to internationalize the yuan and strengthen its influence across emerging markets.

Analysts note, however, that the biggest driver of global “de-dollarization” remains Western sanctions against Russia, which have pushed Moscow and several other countries to seek alternatives to the U.S. currency.

The talks signal that the administration is looking for ways to counterbalance these trends and preserve the dollar’s central role in global trade and finance.