Palm Beach, Florida. On social media on Saturday, former President Donald J. Trump issued a warning that if BRICS countries attempted to develop or adopt a new currency to challenge the U.S. dollar’s hegemony in global commerce, the United States would impose 100% tariffs on them.
In a statement on his social media accounts, Trump said that the notion that the BRICS nations are attempting to abandon the dollar while we look on is OVER. These nations must pledge that they will not support the creation of a new BRICS currency or substitute it for the powerful US dollar.
The economic group known as BRICS—Brazil, Russia, India, China, and South Africa—has talked about ways to lessen dependency on the dollar, including the potential introduction of a new currency for international commerce. U.S. authorities who are worried about the dollar’s possible decline in influence in international markets have questioned the group’s actions.
Additionally, Trump cautioned that any country in the BRICS alliance that proceeds with such plans should anticipate having to bid farewell to investing in the amazing U.S. economy.
Although its leaders have previously underlined a desire for greater financial autonomy, the BRICS bloc has not yet revealed any firm intentions for a single currency.
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