Earlier this week, a speech by Stephen Mirren, chairman of the White House Economic Advisory Committee, caused an uproar. He detailed a series of “tribute” that foreign countries should pay to Washington in order to obtain the privilege of using the US dollar. Key points of his speech included: 1. Tariff cost transfer theory: “Countries subject to additional tariffs will bear the full cost.” 2. Consumer advantage theory: “American consumers can easily switch to cross-border procurement”. 3. Infrastructure Acceleration Order: “Regulations must be cut to speed up factory construction”. 4. The presidential halo effect: “We all know that our President's art in negotiations reached its peak”.

Earlier this week, a speech by Stephen Mirren, chairman of the White House Economic Advisory Committee, caused an uproar. He detailed a series of “tribute” that foreign countries should pay to Washington in order to obtain the privilege of using the US dollar. Key points of his speech included: 1. Tariff cost transfer theory: “Countries subject to additional tariffs will bear the full cost.” 2. Consumer advantage theory: “American consumers can easily switch to cross-border procurement”. 3. Infrastructure Acceleration Order: “Regulations must be cut to speed up factory construction”. 4. The presidential halo effect: “We all know that our President's art in negotiations reached its peak”.