Sun Dec 01 00:50:00 UTC 2024: **Trump Threatens 100% Tariffs on BRICS Nations if They Create a Common Currency**
WASHINGTON – Incoming US President Donald Trump issued a stark warning to BRICS nations on Thursday, threatening to impose 100% tariffs on their imports if they proceed with plans to create a unified currency. Trump’s statement, made via his Truth Social media platform, comes in response to Russian President Vladimir Putin’s recent call for BRICS countries to consider a shared currency during the October BRICS summit in Kazan, Russia.
Trump argued that such a move would undermine the US dollar’s dominance and asserted that the creation of a rival currency would not be tolerated. He stated that the US would retaliate with a 100% tariff on imports from any BRICS nation participating in such an initiative, effectively cutting off significant trade between those nations and the United States.
Putin, in his earlier remarks, acknowledged the challenges in implementing a common currency among the diverse BRICS economies but emphasized the ongoing discussions and exploration of alternative financial mechanisms, including collaboration with India on digital currencies. He noted a global trend towards reducing reliance on the US dollar in payments and reserves.
Trump’s threat represents a significant escalation in the ongoing economic tensions between the US and the BRICS alliance (Brazil, Russia, India, China, and South Africa). The potential implementation of such high tariffs could have profound implications for global trade and the international monetary system. The BRICS nations have yet to officially respond to Trump’s warning.
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