The president-elect of the United States, Donald Trump (Republican), published this Saturday (November 30, 2024) a threat to the BRICS: if the bloc insists on creating its own currency for international business, products from member countries will be taxed by up to 100% when entering the North American market.
“The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over. We require a commitment from these countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty U.S. dollar, or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful U.S. economy,” Trump wrote on his social media profile he created, Truth Social.
Trump also wrote “They can go find another ‘sucker’. There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.”
After winning a second term in the November 5 election, this Republican candidate has declared that he will impose 10% to 20% tariffs on any imported product in order to bring industrial production back to the United States. The tariff rate will be at least 60% for Chinese products.
If this threat is carried out, it will be a major blow to the BRICS, which is made up of Russia, India, China, Brazil, and South Africa. It will be a setback, above all, for China, which leads the group. The development of its own currency for use in international transactions has become a top priority for the BRICS.
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