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The European Union plans to reduce its dependence on the US dollar in the “post-Trump era”

The European Union plans to reduce its dependence on the US dollar in the "post-Trump era"

According to the Financial Times on January 17, as U.S. President-elect Biden is about to take office, the reporter of the newspaper received a draft European Commission policy saying that the European Union will warn global markets of excessive dependence on the dollar, and the EU plans to reduce the number of “post-Trump era”.

Dependence on the dollar, seek a response not afraid of U.S. sanctions and other financial risks, and challenge the dominant position of the dollar.

The European Commission’s draft says that the four-year term of the Trump administration has been extremely disappointing to the European Union, because the U.S. government has been using the dominance of the United States and the dollar in the global financial system to make other countries vulnerable and frustrated in the face of U.S. sanctions and other financial risks.

The draft specifically refers to Iran, saying that the EU is difficult to maintain its independence in the face of Trump’s increasing sanctions on Iran, and emphasizes that the EU should protect itself from some illegal and over-scope measures in other countries in the future.

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