Trump says ‘BRICS is dead’ if it challenges the dollar
The US president has issued a warning about imposing significant tariffs should the geopolitical bloc move forward with a common currency. Read Full Article at RT.com.
TroibNews 
The US president has issued a warning of significant tariffs if the geopolitical bloc pursues a common currency.
US President Donald Trump has labeled the BRICS trade and development group as “dead” and threatened to impose substantial tariffs on all imports from its member countries should they move forward with plans to create a common currency. Trump made these remarks on Thursday while addressing challenges posed to the US dollar's dominance in global trade.
BRICS was initially established in 2006 by Brazil, Russia, India, and China, with South Africa joining the group in 2010. Last year, four additional countries officially became part of the bloc: Egypt, Iran, Ethiopia, and the United Arab Emirates. Current BRICS members represent about 46% of the world's population and over 36% of global GDP, according to estimates from international financial institutions.
“BRICS was put there for a bad purpose,” Trump stated. “I told them if they want to play games with the dollar, then they are going to be hit by a 100% tariff. The day they mention that they want to do it, they will come back and say – we beg you, we beg you. BRICS is dead since I mentioned that.”
These comments came just before a meeting with Indian Prime Minister Narendra Modi. Despite India being a BRICS member, Trump’s criticism remained firm, reinforcing his dedication to safeguarding the US dollar's position.
Trump also dismissed fears regarding the potential economic influence of BRICS nations over the US, asserting, “They don’t have us over a barrel. We have them over a barrel. If BRICS wants to play games, those countries won’t trade with us. We won’t trade with them.”
Though speculation about a single currency for BRICS has lingered in recent years, member states have denied any formal discussions regarding it. During the BRICS summit held in Kazan, Russia, in October, leaders agreed to work on a cross-border payment system to supplement the Western SWIFT network and to promote the use of local currencies in trade.
At the summit, Russian President Vladimir Putin criticized the US government’s use of sanctions and financial constraints, labeling the dollar’s “weaponization” a “big mistake” that is prompting nations to seek alternatives.
Alejandro Jose Martinez contributed to this report for TROIB News
US President Donald Trump has labeled the BRICS trade and development group as “dead” and threatened to impose substantial tariffs on all imports from its member countries should they move forward with plans to create a common currency. Trump made these remarks on Thursday while addressing challenges posed to the US dollar's dominance in global trade.
BRICS was initially established in 2006 by Brazil, Russia, India, and China, with South Africa joining the group in 2010. Last year, four additional countries officially became part of the bloc: Egypt, Iran, Ethiopia, and the United Arab Emirates. Current BRICS members represent about 46% of the world's population and over 36% of global GDP, according to estimates from international financial institutions.
“BRICS was put there for a bad purpose,” Trump stated. “I told them if they want to play games with the dollar, then they are going to be hit by a 100% tariff. The day they mention that they want to do it, they will come back and say – we beg you, we beg you. BRICS is dead since I mentioned that.”
These comments came just before a meeting with Indian Prime Minister Narendra Modi. Despite India being a BRICS member, Trump’s criticism remained firm, reinforcing his dedication to safeguarding the US dollar's position.
Trump also dismissed fears regarding the potential economic influence of BRICS nations over the US, asserting, “They don’t have us over a barrel. We have them over a barrel. If BRICS wants to play games, those countries won’t trade with us. We won’t trade with them.”
Though speculation about a single currency for BRICS has lingered in recent years, member states have denied any formal discussions regarding it. During the BRICS summit held in Kazan, Russia, in October, leaders agreed to work on a cross-border payment system to supplement the Western SWIFT network and to promote the use of local currencies in trade.
At the summit, Russian President Vladimir Putin criticized the US government’s use of sanctions and financial constraints, labeling the dollar’s “weaponization” a “big mistake” that is prompting nations to seek alternatives.
Alejandro Jose Martinez contributed to this report for TROIB News
