Trump is quite correct here. The key to American power is the use of the $USD as default world currency. Lose that status for the $USD and American power is gone. Please do watch what he actually says because as sure as shit, the headlines tomorrow are going to scream Russian puppet/ sympathiser or similar.
America manufactures a lot of desirable products but that does not generally mean they can rule the world. I see every country at the moment straining to be self sufficient. That is the ultimate sanction of every country, and USA is not good at doing without things like good medical care for all of its citizens. This self sufficiency weakens the power of sanctions AND TRADE America HAS been high in world esteem but unless Trump revises drastically what he fights for, and loses his attacks on truth, personal stature, integrity etc he will find undemocratic forces overwhelm all USA culture and values in time.Success breeds success in other countries too e,g. South Kprea
The Smoot-Hawley Tariff Act of 1930 was meant to protect American jobs by raising tariffs on imported goods. But it backfired by prompting other countries to raise their tariffs, which led to a drop in international trade and deepened the Great Depression. US needs to relearn how to reproduce again.