The Short Version
The claim is false. While the U.S. dollar's share of global reserves has gradually declined from ~71% in 1999 to ~57% in 2025, this is a decades-long trend predating Trump's tariff policies. No credible source — including the Federal Reserve, Brookings, St. Louis Fed, and Atlantic Council — attributes this decline to tariffs. Brookings explicitly finds no acceleration since Trump's second term. The dollar remains overwhelmingly dominant with no viable alternative, making the "losing its status" framing unsupported.