Trump threatens BRICS with tariffs if they replace US dollar – DW – 01/31/2025
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US President Donald Trump has threatened BRICS nations with 100% tariffs if they replace the US dollar as reserve currency. He has also threatened Canada and Mexico with tariffs.

Summary

Trump has threatened BRICS nations with 100% tariffs if they attempt to replace the US dollar as the global reserve currency, calling them “seemingly hostile countries.”

BRICS, which includes major economies like China, India, and Russia, has been discussing an alternative reserve currency, especially after Western sanctions on Russia.

The power of the US dollar in the world has strengthened recently. It remains the world’s primary reserve currency and there is a huge worldwide reliance on it.

  • marcos@lemmy.worldEnglish
    16·
    5 hours ago

    BRICS was also designed for exactly this scenario; a rogue US finally showing its whole ass to the world.

    It was created to diversify the commercial relations of those countries, decentralizing them from US/Europe.

    You can call that “protection against a rogue US”, but it was much more of a “we will never get rich if those two control everything we do” thing.

    • liyunxiaoEnglish
      53·
      5 hours ago

      It’s less “we will never get rich”, which is objectively incorrect given China is part of BRICS and was rich long before brics was created, and more, “why the fuck is less than 8% of the world entitled to the wealth of over 60%?”