Billionaire investor Ray Dalio asserts that President Donald Trump’s tariffs have irreparably damaged the U.S. economy, and attempts to mitigate their impact are futile. He argues that America’s global economic dominance is crumbling due to unsustainable trade practices and political tensions with trading partners, contributing to a global economic decline. Dalio points out how increased tariffs on goods and services from other countries have disrupted international trade flows and negatively impacted consumer confidence. This has led many businesses to reduce their engagement in US markets. His analysis suggests the US dollar’s dominance is under threat due to its increasing hostility towards trading partners, while a weakening U.S. economy could trigger a debt crisis reminiscent of the 1980s Latin American default. The shift away from reliance on tariffs has been observed as the Trump administration has acknowledged the need for reduced tariffs with several countries including China. However, Dalio believes that even these measures won’t fully mitigate the damage inflicted by his predecessors’ trade policies.