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Trump assures ‘BRICS is dead’ if it plays with dollar
(MENAFN) US President Donald trump has warned that the BRICS group, which includes Brazil, Russia, India, China, and South Africa, will be “dead” if it follows through with plans to create a common currency. He threatened to impose 100% tariffs on imports from BRICS nations if they attempt to challenge the dominance of the US dollar in global trade. Trump emphasized his commitment to maintaining the dollar’s status and dismissed any concerns about the economic power of BRICS, claiming the US holds a stronger position in trade relations.
Trump’s remarks came before a meeting with Indian Prime Minister Narendra Modi, despite India being a BRICS member. The speculation about a potential BRICS single currency has been a topic of discussion for years, though member countries have denied any formal plans. During the October BRICS summit, leaders committed to expanding local currencies in trade and developing a payment system that would serve as an alternative to the SWIFT network. Russian President Vladimir Putin criticized the US's use of financial sanctions, describing the “weaponization” of the dollar as a strategic error that encourages nations to seek alternatives.
Trump’s remarks came before a meeting with Indian Prime Minister Narendra Modi, despite India being a BRICS member. The speculation about a potential BRICS single currency has been a topic of discussion for years, though member countries have denied any formal plans. During the October BRICS summit, leaders committed to expanding local currencies in trade and developing a payment system that would serve as an alternative to the SWIFT network. Russian President Vladimir Putin criticized the US's use of financial sanctions, describing the “weaponization” of the dollar as a strategic error that encourages nations to seek alternatives.
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