US President Donald Trump has threatened BRICS countries including India and China. Trump said in a threatening tone that BRICS countries should understand that they cannot replace US dollars. If such an effort is made, the US will impose 100 percent tariff on these countries.
Trump said that if the BRICS countries launch their new currency to challenge the US dollar, they will have to pay a heavy price.
Trump said that if the BRICS countries launch their new currency to challenge the US dollar, they will have to pay a heavy price. They will be thrown out of the US market. Trump said that the US would not remain mute spectators and will respond to this danger.
What did Trump write on the social media platform?
Posting on his social media platform, Trump wrote that BRICS countries are trying to challenge US dollar dominance. We will not see it quietly. If the BRICS creates a new currency or supports another currency, then 100 percent tariff will be imposed on it. If this happens, the doors of the US market for BRICS countries will be closed.
Why are BRICS countries making their currency?
BRICS includes countries like Brazil, Russia, India, China and South Africa. The group wants to reduce global dependence on US dollars. BRICS countries are planning to start their own business with the help of BRICS currency. Russia and China are already trading in yuan and other currencies instead of dollars. Now this new currency of BRICS can weaken the economic condition of America.
What is the danger to America from BRICS currency?
If BRICS launchs its own currency, it may weaken the US dollar dominance. If the world starts adopting BRICS currency in place of dollar, the US economy may be shocked.
Will the BRICs be frightened by Trump’s threat?
China and Russia are already working on a strategy to move away from the dollar. India and Brazil are also considering promoting local currencies instead of dollars in their business. However, the American decision to impose tariffs can motivate BRICS countries to adopt their currencies more firmly.
