US President-elect Donald Trump on Saturday called on the BRICS nations to pledge not to create a new currency or endorse an alternative to the US dollar, threatening stiff tariffs if they do so. Reuters Reported
“We need a commitment from these countries that they will neither create a new BRICS currency, nor replace the mighty U.S. dollar with another currency, or face 100 percent tariffs, and the wonderful U.S. I should expect to say goodbye to the economy,” Trump wrote on his True Social account.
He added, “They can find another ‘sucker.'” There is no chance that the BRICS will replace the US dollar in international trade, and any country that tries will wave goodbye to the US. Should be given.
Brazil and Russia have discussed creating a new currency to reduce the dominance of the US dollar, but progress has stalled due to internal divisions within the BRICS group.
Trump’s remarks are seen by some of his allies as a negotiating tactic. Republican Senator Ted Cruz defended the use of tariffs, pointing to their effectiveness in previous negotiations. “You immediately see the threat of tariffs against Mexico and Canada. [it] Cruz said CBS News’ Face the nation on Sunday.