Putin taunts Trump: BRICS says goodbye to the US dollar!

Putin taunts Trump: BRICS says goodbye to the US dollar!

Donald Trump, the elected President of the USA, recently threatened a 100% tariff on BRICS countries that turn away from the US dollar. While America has impressed with economic power in the past, Russian President Vladimir Putin has waved dismissively at today's changes. Putin satirically made fun of the dwindling US economy and emphasized that the emerging market alliance is continuing to advance its economic independence. 

BRICS relies on its own currency and aims to push the dollar into the background of the global economy. “The influence of the US dollar is decreasing worldwide,” Putin declared confidently, as watcher.guru reports. Sanctions and misuse of the USD have caused emerging markets to defy American dominance. The declining importance of the USA in the global economy is also prompting BRICS to strengthen alternative economic processes. However, how the group counters Trump's threat remains to be seen.