Trump threatens BRICS once more

(MENAFN) President Donald trump has warned that any attempt by BRICS nations to challenge the dominance of the US dollar will result in a 100% tariff on their goods. This latest threat comes amid growing efforts by BRICS countries to reduce their reliance on third-party currencies in trade, especially after Western sanctions froze Russian reserves in dollars and euros following the Ukraine conflict in 2022.

Trump voiced his anger over the BRICS bloc's push to move away from the dollar, declaring that the US will not allow it to happen. He emphasized that any country in the group attempting to replace the US dollar or create a new BRICS currency will face severe tariffs, making it clear that the US is committed to protecting its economic power.

In response, Russian President Vladimir Putin highlighted that US pressure is accelerating global moves to use national currencies in trade, diminishing the greenback's dominance. Meanwhile, China reiterated that BRICS is focused on cooperation among emerging markets, not confronting other nations, and India denied any interest in weakening the dollar.

Brazilian President Lula da Silva has shown support for a potential BRICS trading currency, echoing a long-term goal of reducing dependence on the US dollar. However, South Africa has denied that BRICS is planning to create a new currency.

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