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Trump threatens BRICS with 150% tariffs: fight for dollar alternatives!
Trump threatens BRICS with 150% tariffs if they avoid the US dollar. Tensions over monetary power and trade crisis.
Trump threatens BRICS with 150% tariffs: fight for dollar alternatives!
US President Donald Trump has made headlines again! With a threat that doesn't mince words, he made it clear to the BRICS countries: Anyone who tries to end their dependence on the US dollar and switch to an alternative currency will be faced with 150% tariffs. China and Russia, the pioneers of this movement, want developing countries to conduct their trade in local currencies.
“The BRICS countries wanted to destroy our US dollar,” Trump railed at a meeting of Republican governors in Washington. He promptly announced: "Any BRICS state that even talks about avoiding the dollar will pay 150% duty! We don't want your goods!" Since then, Trump said, things have become pretty quiet around BRICS. Provides an overview of this charged situation the report on watcher.guru.
This strategy is a clear setback to the BRICS countries' plans to break US dollar dominance. The countries shy away from the threats, knowing that Trump has made no secret of imposing tariffs, as he has already done with China, Mexico and Canada. But even in the face of the measures, the US dollar remains the leading trading currency while the BRICS de-dollarization dream continues to hang in the balance.