Trump cautions BRICS nations against introducing new currency, replacing dollar
Date
12/1/2024 2:50:04 AM
(MENAFN) US President-elect Donald Trump issued a stern warning to BRICS member states on Saturday, urging them not to introduce a new currency or support any alternative to the US dollar in global trade. In a statement on his Truth Social platform, Trump cautioned that any such move could lead to the imposition of 100 percent tariffs on those countries. His remarks signal his administration's intent to protect the dollar's dominance in international markets.
“We want a commitment from these countries not to create a new BRICS currency or support any other currency to replace the great dollar," Trump wrote. "Otherwise, they will face 100 percent tariffs and expect to say goodbye to the great American economy.” The comments underscore Trump's prioritization of the US dollar's central role in the global financial system as he prepares to assume office.
Trump further dismissed the possibility of BRICS challenging the dollar’s dominance, calling such efforts futile. "They need to find another idiot. BRICS cannot replace the dollar in international trade, and any country that tries will have to say goodbye to the US market," he added. His remarks reflect a combative tone toward any initiatives that could undermine US economic influence.
The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, has previously discussed reducing reliance on the dollar in trade. Trump's statements highlight potential tensions with BRICS nations during his presidency as they seek to diversify their economic strategies, potentially challenging longstanding US hegemony in global trade.
MENAFN01122024000045015839ID1108942565
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.