Comment by anal_reactor

Yes but the thing about power is the more you use it the more the other party learns to live without it. US has such a giant leverage over Europe because Europe believed US would never actually use its power against it. Imagine US sanctioning Chinese officials - they would shrug at best because China has its own everything because they always knew US would bully them.

The consequence is that Europe will slowly move its financial and IT systems away from US solutions. It's a very, very slow process because it was believed for almost a century that US wouldn't actually bully Europe. But for example, there will be more pressure to roll out Wero and have the systems completely European. Before Trump, there was decent chance the whole thing would be just Visa/MasterCard with extra steps. Now it's clear that EU needs its own independent payment system.