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

[Justin TruDont]

Unity is strength. If all these nations Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates together trade in a different currency, the US can't apply 100% tariff on all of them or may apply 100% tariff on all of them which is meaningless. They depend on imports which they can't get elsewhere.

We can trade in Domestic currencies or Yuan for instance .

India is already trading in Rupee with Russia , UAE, Oman, Mauritius, SriLanka , Nepal .

Russia and UAE have now started investing their Rupee reserves back into India

Sometimes back Rosneft bought Essar Oil Refinery Rs 70000 crores or 8.5 Billion USD.

Now they have renamed it as Nayara Energy , and this company now also refines Russian Crude for export to Europe, apart from UAE and Saudi Grade

Talk about the long game played by Putin

 

[Bengal71]

We can trade in Domestic currencies or Yuan for instance .

Yes, but what remains a question is whether Trump will apply 100% tariff for this reason also. He is talking about replacement of dollar in international trade.

 

[muhammed45]

China and India enjoy trade with the US. Question is, would they sacrifice this volume of trade for independence?

USA is an international bully and they can use the leverage of dollar at will. They turn a blind eye on 300 billion dollars trade deficit with China, the same dollars printed out of thin air, on the other hand, they continue with expanding their military presence around Chinese borders. Same will happen to India when China is dealt with.

Americans may sacrifice billions of toilet papers for geopolitical gains. Will Asians and Africans learn their lessons? Or they will just be the same beggars?

 

[Dalit]

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China and India enjoy trade with the US. Question is, would they sacrifice this volume of trade for independence?

USA is an international bully and they can use the leverage of dollar at will. They turn a blind eye on 300 billion dollars trade deficit with China, the same dollars printed out of thin air, on the other hand, they continue with expanding their military presence around Chinese borders. Same will happen to India when China is dealt with.

Americans may sacrifice billions of toilet papers for geopolitical gains. Will Asians and Africans learn their lessons? Or they will just be the same beggars?

Not in a million years. This is just talk. When push comes to shove all trading partners of the US always fall in line.

 

[muhammed45]

Not in a million years. This is just talk. When push comes to shove all trading partners of the US always fall in line.

Beggars cannot be choosers bro. First they have to make up their minds before going for independence.

 

[Lulldapull]

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China and India enjoy trade with the US. Question is, would they sacrifice this volume of trade for independence?

USA is an international bully and they can use the leverage of dollar at will. They turn a blind eye on 300 billion dollars trade deficit with China, the same dollars printed out of thin air, on the other hand, they continue with expanding their military presence around Chinese borders. Same will happen to India when China is dealt with.

Americans may sacrifice billions of toilet papers for geopolitical gains. Will Asians and Africans learn their lessons? Or they will just be the same beggars?

Both Indians and Chinese are intertwined with western economics beyond belief no?

So we know right?

 

[Skukuza]

Not going to happen from South Africa's side. Practically every notable member of Parliament from both government and the opposition went running to Washington when the US government hinted that it was reconsidering South Africa as a beneficiary of the AGOA package. If Washington imposes trade tariffs at 100% on South African goods, we will be doomed.

 

[KingQamaR]

The United States likes to export their inflation, and if everyone in the world's not holding their dollars then they can't export that inflation. Also what's interesting and a lot of people don't know is when commercial Banks create new money they actually create new money out of thin air and loan it out and then charge interest on it. Approximately 97% of all currency in circulation is created by a commercial Banks they create new loans. So if you think about that for a minute if you get a 30-year mortgage you're going to be paying approximately 15 years or having to work 15 years to pay the bank for a loan they created out of thin air, it's a mind blowing let that sink in

 

[CallSignMaverick]

BRICS has more than $6 trillion in forex reserves, China alone having $3.6 trillion. How will that work out if we hypothetically create a BRICS currency (which won't happen anyways).

 

[BappaRawal25]

Trump is being duplicitous. On one hand, he wants the dollar to remain the global reserve currency, yet he wants manufacturing to return to America, which means he wants to control both consumption and production of the global economy. At the same time, he wants to continue running record deficits by increasing spending at home so that he can keep his base happy, while exporting inflation to the rest of the world. Such an approach only works when you are the pre-eminent superpower of the world, not when the world has entered a multi-polar canvas, where such decisions will meet an effective retaliation. Ironically, by doing this tariff nonsense, he himself will lead the world into de-dollarisation.

 

[delta2]

There is no BRICS without China, and perhaps a distant second Russia. Without China/Russia the rest of the BRICS are basically mostlt underdeveloped backwater sh!tjoles that cannot even produce light bulbs on their own.

It all depends on how China thinks to react. Will China provide cushion to an enemy like India that is supposed to be the front in the upcoming war against China? But Russia is a more important ally to China which is at the forefront of trying to undermine and eventually replace the US dollar. So will China take into consideration what Russia has been suggesting?

Or all of this is just a ruse for Trump to get better deals for his personal businesses?

 

[UKBengali]

Who cares as Chinese Yuan will replace US dollar as most traded currency in 10 years.

BRICS Currency? Lol.

 

[nahtanbob]

Trump’s remarks, made on Thursday via a post on his Truth Social platform, come amidst growing discussions within BRICS—an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates—regarding potential alternatives to the US dollar.

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President Donald Trump has once again issued a stark warning to BRICS nations, threatening to impose 100% tariffs on any of the group’s members that attempt to replace the US dollar in international trade.

President Donald Trump has once again issued a stark warning to BRICS nations, threatening to impose 100% tariffs on any of the group’s members that attempt to replace the US dollar in international trade. Trump’s remarks, made on Thursday via a post on his Truth Social platform, come amidst growing discussions within BRICS—an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates—regarding potential alternatives to the US dollar.

“The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is OVER,” Trump declared, signaling his firm stance on the matter. He further emphasized that BRICS countries should either abandon plans for a new currency or back the US dollar or face severe economic consequences.
Trump’s warning included a direct threat: “Or they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.” He added, “They can go find another sucker nation. There is no chance that BRICS will replace the US dollar in international trade, or anywhere else, and any country that tries should say hello to tariffs, and goodbye to America!”

This marks the strongest opposition from Trump to the idea of BRICS creating a new currency or moving away from the US dollar. While Trump has long criticized such efforts, this statement takes a more aggressive tone. In December, Trump also cautioned BRICS nations against such moves, underlining his position on maintaining the dominance of the US dollar in global trade.

BRICS, formed in 2009, represents a growing economic bloc of nations. Russia and China, in particular, have pushed for reducing dependency on the US dollar, with some advocating for a BRICS-specific currency. However, India, a central member of BRICS, has repeatedly expressed opposition to such de-dollarisation efforts. External Affairs Minister S. Jaishankar reiterated in December that India was not in favor of de-dollarisation and there were no current plans to create a BRICS currency.

The BRICS bloc remains the only major international organization in which the United States does not participate. Despite Trump’s threats, BRICS members are likely to continue exploring alternatives to the US dollar as part of their broader economic strategies.

India Officially Rejects BRICS Currency, Calls It 'Impossible'

India has officially rejected the formation of a BRICS currency saying that it's impossible to share a common tender with China.

watcher.guru

 

[Dalit]

India Officially Rejects BRICS Currency, Calls It 'Impossible'

India has officially rejected the formation of a BRICS currency saying that it's impossible to share a common tender with China.

watcher.guru

Nice. As expected from Hindustan. The other BRICS members should be taking notes.

 

[Guru Dutt]

Nice. As expected from Hindustan. The other BRICS members should be taking notes.

why on earth will India agree to so called BRICS currency when India is not ready to let China enter into India into some kind of regional verssion of its belt and road inititive called Regional Comprehensive Economic Partnership ????

India Officially Rejects BRICS Currency, Calls It 'Impossible'

India has officially rejected the formation of a BRICS currency saying that it's impossible to share a common tender with China.

watcher.guru