Donald Trump warns BRICS countries of consequences of abandoning US dollar, threatening 100% tariffs on their goods. Will it affect the global economy and future trade?
Former US President Donald Trump has warned of serious economic consequences if BRICS and other countries abandon the US dollar. The presidential candidate promised not to make favorable trade deals with developing countries if they stopped using the dollar. The warning comes as the BRICS alliance considers using local currencies as the only option for cross-border transactions.
Donald Trump, without directly mentioning BRICS, warned that countries seeking to stop using the US dollar would face a 100% tariff on goods imported into the US.If you give up the US dollar, you won't be able to do business with the United States because we will impose a 100 percent tariff on your goods.” ” he said at a rally in Wisconsin.
If tariffs are imposed, it could change global trade dynamics by causing a shift in the import and export sectors. The BRICS countries could face serious difficulties, as a 100 percent tariff could be an unsustainable financial burden for them. Donald Trump is known for his decisive actions, and the BRICS may pay attention to his statements regarding the US dollar.
Attempts to get away from the dollar (de-dollarization) were first initiated by BRICS after the US imposed sanctions on Russia in February 2022. The alliance has since accelerated the process, convincing other developing countries to follow suit. However, Donald Trump is keen to undo the BRICS mess and restore the US dollar's dominance if elected.
Author's opinion: as they sing in the revolutionary song: our locomotive is flying forward… Here is a calendar for only 2 months of BRICS work and only at the ministerial level.
P.S. Remember the story: Philip sent a message to the Athenians that went something like “If I enter Athens, I will destroy your city.” To which the Athenians, displaying their famous spirit and wit, replied: “If!” (that is, “If you can”).
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