Economist here. The more likely short-term replacement is gold. Not as the reserve currency, but as the currency for denominating trade.
The US has raised tariffs erraticly. Traders seek out a good that can be traded anywhere with predictable low costs and that is gold. So, demand is rising and, if it continues, trades may be denominated in gold.
The US has raised tariffs erraticly. Traders seek out a good that can be traded anywhere with predictable low costs and that is gold. So, demand is rising and, if it continues, trades may be denominated in gold.