Axios: US shedding its status as top partner for foreign governments

The United States is shedding its status as the preferred choice for foreign governments to park money, buy weapons and send students, as stated in an article published by Axios and cited by Report.

The outlet notes that even modest shifts away from the US could weaken advantages that have helped sustain American economic and geopolitical power for decades.

In particular, the Netherlands moved 86 tons of gold out of the US and Canada, citing the need to hedge against "extreme systemic risks." France had already moved all of its gold reserves out of New York, while Germany is discussing a similar move. Norway's sovereign wealth fund also announced plans to reduce its holdings of US government bonds.

European countries are simultaneously seeking to reduce their dependence on the US in defense and technology. They are increasing purchases of weapons produced domestically, while the EU is developing rules aimed at reducing reliance on American technology companies in cloud services.

Interest in the US is also declining among individuals. International applications to US colleges dropped 10% in the most recent admissions cycle. International travel to the US fell 5.5% in 2025, while travel from Canada dropped 25%. The number of tourists from Germany has also fallen 25% since the beginning of Donald Trump's presidency.

At the same time, this is not a wholesale abandonment of partnership with the US The dollar's dominance remains unthreatened, European countries still depend heavily on American military might, and the US remains the top destination for international students.

Particular attention is now being paid to Germany, Italy and Spain, where discussions are intensifying over whether to keep national gold reserves in the US.

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