Trump issues warning to BRICS
Date
12/2/2024 7:10:38 AM
(MENAFN) US President-elect Donald trump has threatened to impose 100% tariffs on goods from BRICS nations if they attempt to create a reserve currency to rival the US dollar. Trump expressed his frustration on his Truth Social platform, stating that the US will not stand idly by as BRICS countries try to move away from the dollar. He demanded that BRICS nations promise not to introduce a common currency or back an alternative to the US dollar, warning that any country attempting to do so would face harsh tariffs.
The BRICS group, which includes Brazil, Russia, India, China, and South Africa, along with new members like Egypt, Iran, Ethiopia, and the UAE, has considered alternatives to the dollar. Russia and Brazil have previously proposed a BRICS currency to reduce dependence on the US dollar, but no such plan has been finalized. The group has instead focused on expanding the use of local currencies and establishing a cross-border payment system to counter the dominance of the Western SWIFT network. Despite this, Trump remains firm in his stance against any move to replace the dollar in international trade.
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