Mnuchin Feared Sanctions Would Undercut U.S. Dollar, Bolton Says

Treasury Secretary Steven Mnuchin emerges as the chief opponent of the Trump administration’s increased reliance on economic sanctions in John Bolton’s new book, worried that an over-reliance on such measures will weaken the global primacy of the dollar.

In encounter after encounter, President Donald Trump’s former national security adviser describes Mnuchin standing in the way of tough economic punishment -- against Venezuela, Russia, China and others. He feared other nations would stop using dollars and that the stress on the global financial system would be too great, Bolton writes.