I'm skeptical of the scenario. Certainly, I would expect Trump to shake things up.

However, I don't see how he would force other nations to do anything. They could hold shorter term debt and get nothing if the US defaults. Or they could swap to longer term and continue to have claim to their money. He'd come at them with their own pragmatic self-interest.

Something that the US could do is print more money, which would devalue the dollar. Other countries hold dollars for their stability. It doesn't serve them to hold a dollar that inflates as much as their own currency. Anybody who uses the dollar in their reserves has an interest in keeping it strong.

Something else to consider is that stable coins are starting to eat up treasuries. So, even if foreign nations de-dollarize, there is a growing market for the treasuries. And those nations would still be able to use the dollar pegged stable coins without having to buy the debt.