. The tariff war could simply be a re calibration of the global money system because it has stopped working well. After the Bretton Woods Mtg., which cemented the US Dollar as the world’s reserve currency. in 1944. THE DOLLAR was then pegged to Gold and the International Monetary Fund and The World Bank were also established at Bretton Woods. The agreement of the 44 nations attending would hold fast from 1944 to 1971 when Richard Nixon, US President announced the dollar would no longer be pegged to gold. Between WW1 and WW2 world governments had set up restrictive trade policies and COMPETITIVELY DEVALUED THEIR CURRENCIES THAT WORSENED THE US GREAT DEPRESSION. Nato was also created and reliance on the US military was established as well. Things have gotten to the point where US is no longer tied to any Gold standard (since 1971) ; countries devalue their currencies at will to gain competitive advantage i.e. China. Countries dump products at lower rates into markets where prices are higher to gain market advantage. Countries abuse labor and pollution standards. But mostly, they devalue their currency which was supposed to be set to the dollar. They also make part of the products in their own country, then offshore to “finish” the product which will then escape country of origin.