Is the USD Still Safe? The Case for Currency-Hedged ETFs

Trump is wrecking the American economy. The credibility of U.S. Treasuries is falling, with yields rising even as the stock market declines, and the dollar is sinking. Most ETFs use the USD as the fund’s base currency. This means that, for a European investor for example, on top of the depreciation of the underlying assets, there’s also the depreciation of the dollar to consider, right? Does it make sense for a European to invest in an ETF that hedges against USD depreciation relative to the EUR?