Trump Threatens Landmark Tariffs on BRICS Nations Over New Currency
Former President Donald Trump has reignited global trade concerns, issuing a stark warning to the BRICS group of nations. If these countries, including economic powerhouses like China, India, and Brazil, move forward with plans for a new currency to rival the US dollar, they will face crippling tariffs.
Through a post on his social media platform, Truth Social, Trump declared a 100% tariff on goods from any BRICS nation that dares to challenge the dominance of the US dollar. "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 US dollar, or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy," Trump stated.
He doubled down, dismissing the possibility of a successful challenge to the dollar’s reign. "They can go find another sucker. There is no chance that the BRICS will replace the US dollar in international trade, and any country that tries should wave goodbye to America," Trump asserted.
This strong statement echoes Trump’s campaign promise of protectionist policies and comes on the heels of his declaration of intent to impose tariffs on traditional US trade partners like Canada, Mexico, and China.
The BRICS expansion, which recently welcomed Egypt, the United Arab Emirates, Ethiopia, and Iran, has been raising eyebrows as some member countries, including Russia under Putin’s leadership, have expressed interest in de-dollarizing the global economy. This move would aim to free themselves from what some perceive as the US dollar’s weaponization in international affairs.
However, other BRICS members remain hesitant, fearful of severing ties with the West and facing the potential fallout of destabilizing global trade.
If implemented, a 100% tariff on goods from BRICS countries would send shockwaves through the US economy, significantly driving up prices and contributing to US inflation. The move would undoubtedly disrupt global trade flows, potentially triggering international backlash and escalating tensions.
Stephen Innes, Managing Partner at SPI Asset Management, described Trump’s proposal as a "blistering" tactic. He reminded readers of Trump’s successful campaign built on promises of strict tariffs on Chinese imports, noting that this aggressive stance on trade is reminiscent of Trump’s broader "America First" agenda.
As the world watches, the potential for an unprecedented trade war looms large, casting a dark shadow over the future of international commerce and global economic stability.
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## Trump’s BRICS Tariff Threat: A Dangerous Game or a Bluff?
**World Today News Exclusive Interview with Dr. Evelyn Chang, International Trade Expert**
**(WTN)** Former President Trump’s recent threat to impose 100% tariffs on BRICS nations pursuing a new currency has sent shockwaves through teh global economy. Dr. Evelyn Chang, a leading expert on international trade and professor at the Columbia University school of International and Public Affairs, joins us today to break down the potential implications of this unprecedented move.
**WTN:** Dr. Chang, how seriously should we take Trump’s threat? Is this a realistic possibility or just political posturing?
**Dr. Chang:** It’s crucial to view this threat within the context of Trump’s history of using tariffs as a leverage tactic. While his rhetoric escalates tensions, the actual implementation of such sweeping tariffs would be incredibly disruptive and likely face important pushback from both domestic and international stakeholders.
**WTN:** What would be the immediate economic consequences of such a move, both for the BRICS nations and the United States?
**Dr. Chang:** The impact would be far-reaching and potentially devastating. For the BRICS nations,the imposition of 100% tariffs would severely cripple their access to the vast US market,leading to a sharp decline in exports and potentially triggering recessionary pressures.
For the USA,while protecting domestic industries might seem appealing in the short term,the retaliatory measures from the BRICS would likely lead to higher prices for consumers,disruptions in supply chains,and slower economic growth. We’d essentially be damaging our own economy in a misguided attempt to maintain dominance.
**WTN:** Trump claims the US Dollar will remain the dominant global currency. How feasible is this in the face of a potential BRICS alternative?
**Dr. Chang:** It’s unwise to underestimate the potential of the BRICS movement. The combined economic power of these nations is significant, and their desire to reduce reliance on the US dollar is understandable. While dethroning the dollar as the global reserve currency is a long-term goal,the BRICS’s effort to establish a viable alternative shouldn’t be dismissed.
**WTN:** beyond economic repercussions, what are the broader geopolitical implications of Trump’s threat?
**Dr. Chang:** This move risks further polarizing the global landscape and diminishes American credibility as a leader in the international community. It portrays the United States as a bully willing to use economic weapons to maintain its position, which will likely alienate allies and embolden adversaries. it’s a dangerous game with potentially disastrous consequences.
**WTN:** What steps can be taken to de-escalate the situation and prevent a trade war?
**Dr.Chang:**
Diplomacy and negotiation are essential. The US needs to engage in constructive dialog with the BRICS nations,addressing their concerns about the current global financial system and seeking common ground. Promoting multilateral solutions, strengthening international institutions, and resisting protectionist impulses are crucial to maintaining a stable and prosperous global economy.
**WTN:** Thank you, Dr. Chang, for your insightful analysis. Your outlook sheds light on the complexities of this situation and highlights the urgent need for responsible leadership and multilateral cooperation.
