Because so much trade is done in dollars. And because companies globally want access to U.S. financial markets, money transfer systems, companies and markets, the U.S. has the ability to tell even foreign companies what to do.
> The U.S. has incredible, unexpected power over global companies and trade.
True, but the more it uses it for self-serving purposes the more the rest of the world tries to find alternatives, weakening that soft-power in the long-term.
Because so much trade is done in dollars. And because companies globally want access to U.S. financial markets, money transfer systems, companies and markets, the U.S. has the ability to tell even foreign companies what to do.
That's why Europe was frustrated when Trump reinstated sanctions on Iran. And had to try to figure out ways of bypassing them. (https://www.google.com/amp/s/www.voanews.com/middle-east/voa...)
The U.S. has incredible, unexpected power over global companies and trade.