Donald Trump’s comments came after last month’s BRICS meeting to discuss increasing non-dollar transactions and strengthening local currencies.
With Donald Trump taking office this January, the world may see a second wave of tariff war. The US President-elect threatened to impose a 100% tariff on the BRICS countries, including India, if they undercut the US dollar or replaced it with another currency for international transactions.
His remarks come after a BRICS meeting in October, which discussed boosting non-dollar transactions. The BRICS grouping comprises Brazil, Russia, India, China, South Africa, and other countries.
Trump stated, as per a scathing online post this morning, that he’s not going to stand and watch the BRICS move away from the Dollar.
“The notion that the BRICS Countries are attempting to move away from the Dollar while we stand idly by and do nothing is OVER. We need the BRICS countries to agree to neither create a new BRICS currency nor back any other currency to supplant the mighty US.
Dollar, or they will face 100% Tariffs. They should expect to say goodbye to selling into the marvelous US Economy,” said the Republican leader who won a landslide victory in last month’s presidential elections.
