U.S. debt is becoming more expensive because interest rates on U.S. debt are going up. The U.S. has to pay more to maintain the debt. Trump’s trade wars, and his continuation and growing of U.S. deficits, are causing this. Trump’s erratic tariff behavior causes uncertainty and discourages investment.
Dollar dominance is a benefit to Americans. Even individuals could borrow cheaper because the U.S. dollar was the global reserve currency. The dollar losing its value hurts this benefit. Trump’s tariffs weakened U.S. dollar dominance by losing trust in the United States as a responsible leader.
The U.S. didn’t primarily lose some manufacturing due to the strength of the dollar.
U.S. problems are worse than just Trump. There are a lot of bad political ideas on both sides.
The fall of the U.S. dollar relative to other currencies will make imports more expensive. This increases the costs of imports on top of the more direct effect of tariffs.
The dollar’s decrease will make U.S. exports cheaper overseas, however, this may be counteracted by foreign countries retaliating against U.S. exports in response to Trump tariffs, and by foreign customers boycotting U.S. companies.