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Trump threatens BRICS countries: 100 percent tariffs on goods!
Trump threatens BRICS countries with tariffs and calls for an end to dollar dominance. Plans for a common currency are being discussed.
Trump threatens BRICS countries: 100 percent tariffs on goods!
With his threatening tariffs, US President-elect Donald Trump is now attacking the BRICS countries, which are declaring war on the US dollar with the idea of their own currency. On his Truth Social platform, Trump said he expected a commitment from these countries that they would neither create a new currency nor replace the dollar. Otherwise, he plans to impose “100 percent tariffs” on goods from these states. BRICS, an association of rising powers such as Brazil, Russia, India, China and South Africa, has recently made intensive efforts to curb the dominance of the dollar, which could have a massive impact on the geopolitical situation krone.at reported.
The challenge of a common currency
In view of the current developments in the BRICS group, which will accept six new members on January 1st, the issue of a common currency is of central importance. President Vladimir Putin described this idea as a “challenging task” and reiterated that the club wanted to work on a solution. However, the exact project of a BRICS currency, also known as “R5”, is in jeopardy due to a lack of progress so far. Despite this difficult situation, pressure on the US dollar remains high, as around 50 percent of all international payments are made in US currency, while the US only accounts for ten percent of world trade sueddeutsche.de explained.
The uncertainty in the stability of the individual currencies of the BRICS countries - in particular the South African rand and the Brazilian real - complicates such plans. Experts warn that five volatile currencies cannot form the basis for a strong alternative global currency. In order to suggest at least a certain degree of stability, a gold peg for the new currency is being discussed, but this would require enormous financial resources.
Geopolitical tensions and the threat of US trade measures could give the BRICS alliance additional impetus to realize their ambitions. Despite the difficulties and skepticism, the goal of breaking the dominance of the dollar remains of overriding importance for these states.