Sat Feb 01 08:48:21 IST 2025: ## Tharoor Dismisses Trump’s Tariff Threats Over BRICS Currency Shift
**New Delhi, February 1, 2025** – Congress MP Shashi Tharoor has dismissed U.S. President Donald Trump’s threats to impose 100% tariffs on BRICS nations if they attempt to replace the U.S. dollar with an alternative currency. Tharoor stated that there is currently no serious proposal within BRICS to create such a currency, calling the dollar a “practical convenience” for most countries.
While acknowledging past instances of bilateral trade using national currencies (like the Rupee-Rubel trade with Russia), Tharoor emphasized the lack of any concrete plan for a BRICS alternative. He added that there is no support within the Indian government for such a proposal, rendering Trump’s threats largely insignificant for the time being.
Trump, in a post on Truth Social, reiterated his strong opposition to de-dollarization, warning BRICS nations against any attempts to diminish the dollar’s role in global trade. He has consistently maintained this hardline stance, even before assuming office, threatening similar tariffs if a new currency were launched.
This latest exchange follows previous statements from Trump and other BRICS leaders. At the 15th BRICS Summit in 2023, Russian President Vladimir Putin advocated for increased use of national currencies in transactions, and in June 2024, BRICS foreign ministers supported enhanced use of local currencies in trade.
Tharoor’s comments highlight the current lack of momentum towards a BRICS-backed alternative to the U.S. dollar, effectively neutralizing Trump’s recent pronouncements. The future of the dollar’s dominance in global trade remains a subject of ongoing discussion and debate.
First Piper 