Yeap... the US chooses Trump and the world has to put up with him. But in the end, the noise making machine is very funny and glorious as long as you have a job and you can pay your basic supplies. But if the inflation really kicks in and the world starts de-coupling from "the problem" and working closer with China, the long term will be anything but a joke.
Isn't what you described already happening? Trading oil exclusively in USD is no longer a reality, inflation stats are not telling the truth, and China has stronger relationships with many parts of the world.
Yes and no. The majority of the world trade including oil is by far in USD and some in Euros,... Remimbi is just a little tiny bit for now.
It is a trend, China is growing and may eventually catch up on the US GDP, but I do not clearly see that pushing publicly your allies and countries that have better links with US improves that.
There are many ways of doing diplomacy, but TweteeX does not look like the right tool. I do understand that Trump wants to make every simple thing look like very big, but at the same time it makes the leaders of other countries have to stand up to him. Very few leaders would survive a complete yield to a TweeteXd request.
For example, the collaboration of Mexico would have resulted more or less similar if done in a discreet manner, but it would not serve the marketing machine of the POTUS. It would have been easier to have the embassador to Mexico speaking with the Mexican govmnt.
To be honest both Trudeau and Sheinbaum have been quite sensible in their approaches. US got what the POTUS wanted and Mexico has at least some written general agreement on the US controlling the weapons supplied from them to the cartels.
Trudeau knows well that the US and Canadian economies are well interlinked. Canada is in large part a commodities producer and if it does not sell it here, it will sell there. Their industrial production is not huge either.
I think that the deals with Canada are not going to yield any significative improvement, but in the mid time they will harm both sides.