Donald Trump, US President Elect, has warned of 100 percent tariffs on nine nations. He threatened this if they create a currency to rival the US dollar. On Saturday, Trump wrote on social media, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”
The BRICS bloc includes China, Russia, Brazil, India, and South Africa. It also includes Iran, Egypt, Ethiopia, and the United Arab Emirates. Trump’s statement reflects his campaign pledge to implement widespread tariffs. Recently, he has escalated his focus on this issue.
During his campaign, Trump supported tariffs to protect American economic interests. His recent warning targets BRICS, a bloc of mostly emerging economies. Some BRICS leaders, especially from Brazil and Russia, have suggested a unified currency. This currency would challenge the US dollar’s dominance in global trade. It also aims to reduce reliance on the dollar in international transactions.
However, BRICS members have failed to agree on this proposal. Internal disagreements have delayed progress toward creating a single currency.
Trump’s threats highlight rising economic tensions. He will take office on January 20. His remarks show US concerns about changing global trade and finance dynamics.
A BRICS currency could reshape global markets. It may also weaken the US dollar’s influence. These developments suggest potential clashes between the US and BRICS under Trump’s leadership.
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