De-Dollarisation Plans Under Fire
Former U.S. President Donald Trump has warned BRICS nations of severe economic repercussions if they proceed with creating a new currency to challenge the U.S. dollar. Trump threatened 100% tariffs, stating, “Countries trying to undermine the dollar should prepare to lose access to America’s economic opportunities.”
The BRICS bloc, which recently expanded to include nations like Saudi Arabia and Iran, has long discussed the possibility of a shared currency. However, the plan has yet to be executed and faces skepticism from international observers.
Trump’s remarks reflect his broader strategy of using tariffs to protect U.S. economic interests, a tactic he is also applying to Canada and Mexico with impending 25% tariffs on their exports.
