Trump again threatens BRICS with 100% tariffs if they try to replace the US dollar - Reuters
Kyiv • UNN
Donald Trump has warned the BRICS countries about imposing 100% duties in case of an alternative currency. The statement came amid expectations of a decision on 25% duties for Canada and Mexico.
US President Donald Trump warns the BRICS against replacing the US dollar with the threat of tariffs, as discussions about a new currency gain momentum after sanctions against Russia. UNN writes with reference to Reuters.
Donald Trump has again warned the BRICS countries against attempts to replace the US dollar as a reserve currency, repeating his threat of 100% tariffs, which he voiced a few weeks after winning the presidential election in November.
We will demand from these seemingly hostile countries a commitment not to create a new BRICS currency or support any other currency to replace the mighty US dollar, otherwise they will face 100% duties
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At the same time, Russia said that any attempt by the United States to force countries to use the dollar would have the opposite effect. The BRICS includes Brazil, Russia, India, China, South Africa, and several countries that have joined in recent years. Although the grouping does not have a common currency, discussions on the issue have intensified since the West imposed sanctions on Russia over its war in Ukraine.
There is no way that the BRICS will replace the US dollar in international trade or anywhere else, and any country that tries should say hello to tariffs and goodbye to America!
Trump issued the warning to the BRICS countries as Canada and Mexico await his decision on imposing 25% tariffs on February 1. He plans to use these measures as a tool of pressure to force his North American partners to help fight the flow of illegal drugs, including fentanyl, as well as illegal migration to the United States.
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Despite the BRICS' desire to reduce their dependence on the dollar, its dominance in the global economy has only strengthened. This is due to the resilience of the US economy, tight monetary policy, and growing geopolitical risks.
Recall
For the first time, the BRICS discussed the possibility of creating their own currencyin 2023.
In turn, Donald Trump threatened the BRICS with a 100% tarifflast November.