- Trump on Saturday floated “100% tariffs” on the BRICS group of rising markets.
- Trump is pushing again on efforts to dethrone the US greenback as the first international reserve foreign money.
- Trump’s remarks come because the BRIC nations search to flex their financial power on the worldwide stage.
President-elect Donald Trump on Saturday lashed out on the BRICS group of rising market international locations, threatening to impose 100% tariffs in the event that they attempt to “transfer away” from the US greenback.
BRICS contains 9 international locations — Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates — that are aiming to flex their financial energy in a world the place the US greenback continues to reign supreme because the main international reserve foreign money.
Amid Russia’s push for BRIC nations to curb the worldwide dominance of the US greenback, Trump took to his Truth Social platform to decry such a transfer.
“The concept that the BRICS Countries are attempting to maneuver away from the Dollar whereas we stand by and watch is OVER,” he wrote. “We require a dedication from these Countries that they may neither create a brand new BRICS Currency, nor again another Currency to exchange the mighty U.S. Dollar or, they may face 100% Tariffs, and may anticipate to say goodbye to promoting into the fantastic U.S. Economy.”
The president-elect continued: “They can go discover one other ‘sucker!’ There isn’t any probability that the BRICS will exchange the U.S. Dollar in International Trade, and any Country that tries ought to wave goodbye to America.”
During an October summit of the BRICS nations, Russian President Vladimir Putin accused the United States of “weaponizing” the greenback.
“It’s not us who refuse to make use of the greenback,” he mentioned on the time, in accordance with The Associated Press. “But if they do not allow us to work, what can we do? We are compelled to seek for options.”
Trump’s newest remarks got here simply days after he threatened 25% tariffs on imports from Canada, China, and Mexico, the highest three buying and selling companions of the United States. Trump pressed the three international locations on the move of medication and unlawful migrants coming into the United States.
Justin Trudeau, Canada’s prime minister, spoke with Trump earlier this week following the president-elect’s pledge to focus on his nation — and touted the long-standing relationship between the 2 international locations. Trudeau later reiterated that tariffs would harm each Canadian and American shoppers.
On Friday, the prime minister traveled to Trump’s Mar-a-Lago property in Florida, the place he mentioned he had an “glorious dialog” with the president-elect.
Trudeau’s workplace mentioned in an announcement that the prime minister and Trump “shared a productive wide-ranging dialogue.”
“As Canada’s closest buddy and ally, the United States is our key companion, and we’re dedicated to working collectively within the pursuits of Canadians and Americans,” the assertion continued.
Mexican President Claudia Sheinbaum, in the meantime, additionally spoke with Trump on Thursday, saying afterward that “there won’t be a possible tariff battle” between Mexico and the United States.
