The assertion strengthened Trump’s place on de-dollarisation, warning that BRICS international locations should decide to sustaining the US greenback’s function in international commerce or face financial penalties
US President Donald Trump ihas as soon as once more held out the specter of tariffs to BRICS nations in the event that they attempt to exchange the US Dollar with some other forex. In a put up on Truth Social, Trump wrote:
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful US Economy. They can go find another sucker Nation. There is no chance that 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!”
The assertion strengthened Trump’s place on de-dollarisation, warning that BRICS international locations should decide to sustaining the US greenback’s function in international commerce or face financial penalties. His put up emphasised that any try and introduce a brand new BRICS forex or again one other different to switch the greenback would end in a whole commerce tariff in opposition to these nations.
Trump’s remarks sign a agency stance in opposition to monetary shifts that would problem the US financial system’s affect in worldwide commerce.
Trump had beforehand reiterated his place throughout a signing ceremony on the Oval Office, the place he instantly warned BRICS international locations in opposition to transferring away from the greenback. Speaking on the matter, he stated:
“As a BRICS nation… they’ll have a 100 per cent tariff if they so much as even think about doing what they thought, and therefore they’ll give it up immediately.”
He additionally rejected the concept that the US was in a weak place, referencing an announcement from former President Joe Biden. Trump insisted that the US holds leverage over BRICS international locations, stating:
“It’s not even a threat. In fact, since I made that statement, Biden said, they have us over a barrel. I said, No, we have them over a barrel. And there’s no way they’re going to be able to do that.”
Trump had made comparable warnings earlier than assuming workplace because the forty seventh President of the United States, stating that BRICS nations would face 100 per cent tariffs on imports to the US in the event that they launched a brand new forex. His newest remarks reinforce his administration’s dedication to defending the US greenback’s dominance in international commerce.
BRICS nations have been actively engaged on decreasing greenback dependence. During the plenary session of the fifteenth BRICS Summit in 2023, Russian President Vladimir Putin referred to as for de-dollarisation, stating that “BRICS countries must expand settlements in national currencies and enhance cooperation between banks.” In June 2024, BRICS international ministers met in Nizhny Novgorod, Russia, the place they advocated for the “enhanced use of local currencies in bilateral and multilateral trades and financial transactions between the member countries.”
(Except for the headline, this story has not been edited by DNA workers and is revealed from ANI)
