Trump's tariffs reemphasize the need for a World Currency

​ Trump's tariffs cannot be applicable as long as the US dollar is used as World Currency. It's as simple as that.  While every country has the sovereign right to protect its economy and impose tariffs, the USA cannot justifiably impose these tariffs till a new world currency is established. Since the 1970s, the US has been printing currency based on the transactional demand of dollar by the world economy, and not against a gold reserve as mandated earlier in the Bretton Woods Agreement. The 1944 Bretton Woods System required countries to guarantee convertibility of their currencies into U.S. dollars, with the dollar itself convertible to gold bullion. The Bretton Woods conference also led to the creation of two key institutions: the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development, which is now known as the World Bank.  On 15 August 1971, the United States ended the convertibility of ...