Donald J. Trump, the 45th president of the United States, and after the 2024 election triumph, the president-elect of the largest economy started making waves weeks before entering the White House. In the newest development from the pre-presidency world, Donald Trump has threatened the multi-national geopolitical group, BRICS.
Trump’s War On BRICS Currency
In the newest development, from the pre-presidency world, Donald Trump has threatened the multi-national geopolitical group, BRICS. Trump, who has a known dislike for such grouping, has laid down his attack on the grouping’s attempts to reduce its dependence on the US dollar, which is the world’s reserve currency.
The group, which primarily includes Brazil, Russia, India, China, and South Africa, has mooted the idea of spinning a currency of its own, the ‘BRICS Currency’, as an alternative to the US dollar. This would result in ‘De-Dollarization’ or a reduction in dependence on the US Dollar.
It needs to be noted, that in addition to the five aforementioned nations, the intergovernmental currently also includes Iran, Egypt, Ethiopia, and the United Arab Emirates, taking the total count of members to nine.
Trump, instead of his usual territory, Truth Social, took to Elon Musk’s X to launch this new tariff attack.
In his post, Trump said, “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.”
Face 100 per cent Tariff
Bluntly asking the nations to back down, Trump further added, “We require a commitment from these Countries that they will neither create a new BRICS Currency nor back any other Currency to replace the mighty U.S. Dollar.”
Escalating the matter, Trump issued a direct tariff threat and said, “They will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.”
‘Go Find Another Sucker’
The future 47th president of the ‘free world’ acrimoniously added, ” They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
The group, which primarily includes Brazil, Russia, India, China and South Africa has mooted the idea of spinning a currency of its own, the BRICS Currency, as an alternative to the US dollar. | X
Trump’s Tariff Bombshells
Ever since winning the US presidential elections held on November 5, Donald Trump has made headlines for his future polices bother domestically and internationally. After a flurry of abstruse and nominations for his cabinet, Trump has shifted attention to international affairs.
Earlier in November Trump issued a similar tariff threat against China, Mexico and Canada. This was in retaliation to what he called the immigration and drug problem. Canada and Mexico were quick to try and pacify the situation, with China not kowtowing to the US, as of yet.
A New Tactic, An Old Policy
This is being seen by some as a new arm-twisting tactic, rooted in tariff, that the incoming Trump administration will employ, as a part of its foreign policy, to have things Uncle Sam’s way, as it has done in the past, under previous administrations, only in different guises.
In addition, this threat to impose tarriff over supposed De-Dollarization flies in the face of his ambitions of devaluing the currency in order to reinforce US manufacturing and US exports to other nations, as it the US dollar’s extensive use would only make it stronger, thereby aiding exports into the US.
BRICS is yet to put out a collective response in the matter.
This post was originally published on here
