Janet Yellen, the former US Treasury Secretary under the Joe Biden administration mentioned that Biden’s sanctions on Russia in 2022 led to the rise of de-dollarization making other countries cut ties with the US dollar. Fast-forward to 2025, Yellen has now mentioned another leader for the declining trust in the US dollar. Developing countries are enraged with the White House weaponizing the US dollar for their benefit while crippling the economies of other nations.

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The world is growing increasingly disinterested in trading in the US dollar and wants local currencies to reign supreme. Ending reliance on the US dollar will safeguard their economies shield their wealth and make local businesses thrive. It would also make their economies risk-averse to debt as America’s national debt stands at $36.22 trillion. In a recent interview with CNBC, Janet Yellen named another person who is destroying the US dollar.

Donald Trump & His Tariff Policies Are Destroying the US & Dollar, Says Janet Yellen

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Janet Yellen said that Trump and his recent tariff policies are eroding trust in the US dollar among developing countries. She explained that global investors are looking to shun US assets and invest in other countries and commodities. Even US Treasuries, which were previously considered safe are now in rocky waters, said Yellen. “The safety of what is the bedrock of the global financial system, namely US Treasuries,” is now troublesome, she said.

“I don’t think we’re seeing dysfunction in the sense of liquidity completely drying up in the markets. But a pattern suggestive of a loss of confidence in US economic policy and the safety of bedrock financial assets is really very worrisome. So I really am worried about the US becoming isolated, viewed as untrustworthy, and thus creating an opportunity for China to work with some of our best allies,” Janet Yellen said, specifying that Trump’s policies are eroding confidence in the US dollar.

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