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Biden's tariffs are another nail in a dollar's coffin.

President Biden recently raised taxes on American consumers and businesses and may have

hastened the end of the dollar's reserve currency status.

President Biden did this by increasing tariffs on Chinese imports.

Specifically, President Biden raised tariffs on products including Chinese produced

steel and aluminum and many components

imported from China for use in manufacturing electric vehicle batteries.

Tariffs on Chinese-made semiconductors

arising from 25 to 50 percent,

while tariffs on Chinese made electronic vehicles

are rising from 25% to an astounding 100%.

Of course, the cost of these tariffs will be borne by Americans wishing to purchase electric cars and American electric car

manufacturers that use materials ported from China. These new tariffs

thus undercut Biden's goal of getting more Americans to drive electric cars.

The tariffs on Chinese goods give China even greater incentive to challenge the dollar's world reserve currency status.

The same week, Biden imposed these tariffs, China's President Xi and Russian President Putin

announced they were strengthening their alliance in order to better challenge

U.S. military and economic hegemony.

This is a reaction to U.S. foreign policy of the post-Cold War era, which has reversed the Richard Nixon-Henry

Kissinger strategy of pursuing good relations with China.

A part of the announcement recognized use of the Chinese Wan and the Russian Rubel for

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