Trump threatens 100% tariffs on BRICS nations over US dollar replacement plans

[wangdefa]

he does not understand what BHP is doing. BHP is keeping the RMB in some sort of offshore account, most likely in HK. Whether they convert it into AUD or Dirhams, thats their business. Most major corporations have some sort of hedging accounts in Singapore, HK, and other major financial centers. The significance is for the first time, they are accepting RMB directly.

Yes, sellers must accept RMB payments, and unless they reject the Chinese market, more countries will accept such payment agreements under huge purchase orders. Unlike in the past, we do not use the dollar as a medium. This reduces the risk of our dollar tide and prepares us for decoupling. Australia is just the beginning.

 

[MH.Yang]

Yeah, sure, and we will keep and spend those RMB we got from you buying coal or iron ore from BHP right? Last time I went to the bank and checked, which is today, RMB is NOT a legal tender of currency in Australia. Which means RMB means absolutely nothing to the Australian Market

LOL, earning from selling ore is not enough to settle all the imported Chinese goods? Buddy, we had a trade surplus with you, which means we sell to China more than we buy from China, which means we can't even use the RMB to buy stuff from you, because we would still have RMB left. So what do you suggest we do with leftover RMB??

Does Australia Have a Trade Surplus or Deficit with China? Here’s What the Numbers Say - Washington Morning

Australia and China share a complex but deeply intertwined economic relationship. At the core of this relationship lies a significant question: Does Australia run a trade surplus or a trade deficit with China?

washingtonmorning.com

View attachment 153924

Dude, stick to stuff that you know. I don't know what it is, maybe Engineering or stuff like that, but you definitely know nothing in currency and trade..........

In 2024, China imported 564.9 billion CNY of iron ore, 11 billion CNY of wool, and7.7 billion CNY of wheat from Australia, totaling 583.6 billion CNY. Australia imported goods from China valued at about 573. billion CNY. The values of both sides are basically the same.


What else would you like to say?

 

[MH.Yang]

Breaking news, the Chinese government has already rejected the US's request for negotiations.

Trump seems to still not realize that the Chinese government's to decouple is irreversible. Once an industrial country like China has the industrial achievements generated by decoupling, it is impossible to stop the decoupling. Because these achievements will inevitably about the "beneficial interest groups due to decoupling".

Now that the trade volume with the US has dropped to 9% of China's total foreign trade, is still fantasizing about negotiations. Trump should sober up and spend time arranging for the supply chain to be replaced as soon as possible.

 

[wangdefa]

Breaking news, the Chinese government has already rejected the US's request for negotiations.

Trump seems to still not realize that the Chinese government's to decouple is irreversible. Once an industrial country like China has the industrial achievements generated by decoupling, it is impossible to stop the decoupling. Because these achievements will inevitably about the "beneficial interest groups due to decoupling".

Now that the trade volume with the US has dropped to 9% of China's total foreign trade, is still fantasizing about negotiations. Trump should sober up and spend time arranging for the supply chain to be replaced as soon as possible.


View attachment 154061

This won't delay someone using inside information to make money into their pockets, maybe it's fake news.

 

[MH.Yang]

This won't delay someone using inside information to make money into their pockets, maybe it's fake news.

October 1st to October 8th is the National Day holiday in China. Trump chose to provoke the tariff war on the night of September 0th, and then sent a reconciliatory signal to the Chinese government on October 9th, obviously trying to use this holiday of the Chinese government to manipulate the stock and markets to make money. This clown's calculations are wrong, the Chinese government will not stop the war according to his plan.

 

[Han Patriot]

October 1st to October 8th is the National Day holiday in China. Trump chose to provoke the tariff war on the night of September 0th, and then sent a reconciliatory signal to the Chinese government on October 9th, obviously trying to use this holiday of the Chinese government to manipulate the stock and markets to make money. This clown's calculations are wrong, the Chinese government will not stop the war according to his plan.

The advantage that China has is it's authoratarian structure. The government can control the capitalist in the country unlike in the US. Now Trump is trying to use crypto to absorb US debt using stablecoins, while China is buying gold like crazy. My bet is the financial system will be fragmented, USD will not be the dominant power anymore but another option. Unless US can reduce it's deficit and corruption, the fate of the US is in peril.

 

[j_hungary]

In 2024, China imported 564.9 billion CNY of iron ore, 11 billion CNY of wool, and7.7 billion CNY of wheat from Australia, totaling 583.6 billion CNY. Australia imported goods from China valued at about 573. billion CNY. The values of both sides are basically the same.


What else would you like to say?

You forgot about meat and other imports (such as Wine, Dairy), and even by your logic, we still run a 2 billion USD surplus (again, before all other items you did not list)

Australia Exports to China - 2026 Data 2027 Forecast 1988-2025 Historical

Australia Exports to China was US$101.75 Billion during 2025, according to the United Nations COMTRADE database on international trade. Australia Exports to China - data, historical chart and statistics - was last updated on May of 2026.

tradingeconomics.com

Again, WE RUN A TRADE SURPLUS with China. In fact, we don't have a country where we import more than we export, we are like Russia, we are loaded with Natural Resource, but not just oil and gas.

 

[j_hungary]

This may be the next step in the plan. In fact, the proportion of Southeast Asian countries using RMB to purchase from China is increasing, and they are not within the scope of currency swaps. The RMB is already held in various Southeast Asian countries, which will dilute the share that originally belongs to the US dollar. The currency share you mentioned is only a statistical analysis of the Swift channel. In fact, China has its own settlement system, and a large share of it is not included in Swift's statistics. Of course we're just getting started, and it's going to take more time to run.

That's not from the SWIFT. That's from IMF Special Drawing Rights........

Special Drawing Rights

This page provides basic information on the IMF's Special Drawing Rights.

www.imf.org

Again, you won't dilute US Dollars because we are talking about different things. That can only happen in one of two ways.

1.) China increases the SDR percentage by making more foreign exchange available.
2.) More countries using/trading RMB, ie adopt more RMB into their own Central Bank.

Just because you settle an account with one currency does not mean you dilute the power of other currencies, because 1.) they can still settle with USD on other transactions. 2.) If you did not increase the SDR, you will still need to touch USD on said transaction, because there won't be enough RMB for settlement; you need to have a bigger money base to settle, again, that would lead to inflation. Otherwise, you are just moving money from one end to another, similar to how you speculate on foreign currency.

 

[j_hungary]

LMFAO, some MOFOS think BHP is setting money from Chinese deal on an off shore account.....

Yes, they set over 1/4 of their entire revenue and almost 50% of their Operational Income on an offshore account and do nothing. That sounds about right........

BHP - Wikipedia

en.wikipedia.org

BHP Billiton Shifts to RMB Iron Ore Settlement with China

Discover how BHP Billiton's iron ore RMB settlement deal with China reshapes global commodity trading and signals market power shifts.

discoveryalert.com.au

You really shouldn't quit your day job, my guy

 

[MH.Yang]

You forgot about meat and other imports (such as Wine, Dairy), and even by your logic, we still run a 2 billion USD surplus (again, before all other items you did not list)

View attachment 154083

Australia Exports to China - 2026 Data 2027 Forecast 1988-2025 Historical

Australia Exports to China was US$101.75 Billion during 2025, according to the United Nations COMTRADE database on international trade. Australia Exports to China - data, historical chart and statistics - was last updated on May of 2026.

tradingeconomics.com

View attachment 154084

Again, WE RUN A TRADE SURPLUS with China. In fact, we don't have a country where we import more than we export, we are like Russia, we are loaded with Natural Resource, but not just oil and gas.

Of course, CNY has only covered iron ore, wool, wheat for the time being, and has not covered most of Australia's trade surplus.

So, what you really want to say is: Australia has only replaced the main currency of trade with China from the US dollar to CNY, and the main foreign exchange reserve is still the dollar, so Australia is not considered betraying the United States?

 

[j_hungary]

Of course, CNY has only covered iron ore, wool, wheat for the time being, and has not covered most of Australia's trade surplus.

So, what you really want to say is: Australia has only replaced the main currency of trade with China from the US dollar to CNY, and the main foreign exchange reserve is still the dollar, so Australia is not considered betraying the United States?

What I said is you have no idea how currency works, just because BHP settles iron ore (by the way, ONLY 30% of Iron ore sales), that had NOTHING TO DO with Australian Monetary Policy.

BHP is a private company; how they want to settle what they buy and what they sell is their business. BHP doesn't print any money (Not RMB, not AUD, not USD); they are a USER of money, it's the Australian Government that dictates monetary policy. And in this case, if they buy in RMB, and they want to bring it back to Australia to spend it, to pay for rent and wages or whatever, they need to exchange that RMB into AUD, because we don't spend RMB here in Oz, and that process was done by the Federal Bank of Australia. And that process would involve changing the RMB into USD, then into AUD, That's how Forex in Australia works with Federal Bank here. Either that or they sit on that money (~10 billion or half their operational income) into some offshore account like some dumbo suggested

Dude, EVERY TIME I buy stuff from Alibaba or T-mall, the settlement currency is in RMB, and I charge it on my bank card in Australia. Does that mean I also betrayed both the Australian and the US governments? Or I somehow have a dictation on how Australian Forex work?

Dude, if you don't know how any of this works, just ask; people here are more than willing to educate you.

 

[atmi_bum]

Looks like SCOTUS, as a whole, is skeptical of Trump's ability to impose tariffs unilaterally without congressional approval. Trump has been imposing tariffs under the International Emergency Economic Powers Act (IEEPA). It looks like it will be overturned, which will unwind a key plank of his economic plan.

More details here:

Court appears dubious of Trump’s tariffs

 

[SoulSpokesman]

@atmi_bum

Looks like the SCOTUS will drop an atmi bum on Trump tariffs.

Regards

 

[atmi_bum]

@atmi_bum

Looks like the SCOTUS will drop an atmi bum on Trump tariffs.

Regards

I hope so. He has overstepped his bounds on so many issues, primarily economic.

 

[AZ_HighCountry]

I hope so. He has overstepped his bounds on so many issues, primarily economic.

Congress has effectively ceded much of its responsibilities and powers to the Executive Branch over many years.