Never attribute to malice that which is adequately explained by stupidity.

...?

No, this is the consequence of having an actual stupid person in the Oval Office and the majority party being half coerced and half committed in cultlike devotion to POTUS.

Obviously the US has economic weapons. It's the largest economy in the world.

If anything this signals that POTUS himself cannot wield those weapons though, and the American public, political, and business apparatuses have little appetite for this use of those weapons.