Original Source: www.cbsnews.com
In a bold move, President-elect Donald Trump threatened a staggering 100% tariff on the BRICS nations—Brazil, Russia, India, China, South Africa, along with Egypt, Ethiopia, Iran, and the UAE—if they dare to undermine the U.S. dollar by establishing an alternative currency. Trump’s ultimatum came via Truth Social, stating that adherence to traditional currency standards is crucial, or face severe economic consequences. This threat mirrors his previous stance of imposing tariffs on goods from Canada, Mexico, and China to address immigration and drug issues.
The BRICS countries, established in 2009, strive to bolster their economic independence from the U.S. dollar, which currently dominates global trade and finance. Donald Trump’s threats reflect a growing tension as nations like Russia and Brazil consider alternative currencies to challenge the dollar’s supremacy. Putin has voiced the need for a new payment system to sidestep dollar dependency, revealing a pivotal global economic shift.
The prospect of a 100% tariff on BRICS goods, while unlikely, could inflate prices for American consumers across numerous product lines—from Brazilian coffee to Chinese electronics. Critics argue this aggressive stance reveals insecurity in the U.S. economy and could provoke an accelerated shift away from the dollar, cementing a more fragmented global currency landscape where trust and economic strength are paramount.
