ⓒ CNN
Donald Trump, in a recent statement, issued a stark warning to the BRICS nations. He declared that any attempt by these emerging economies to create a new currency would be met with a 100% tariff on their goods entering the United States. This aggressive stance comes as BRICS, a group initially comprising Brazil, Russia, India, China, and South Africa, has expanded to include several other nations, signaling a potential shift in global economic power.
Trump’s statement, made via Truth Social, emphasized the importance of the US dollar and framed the potential for a new BRICS currency as a direct threat. He asserted that a commitment from BRICS nations to refrain from creating or supporting a rival currency was necessary to avoid these substantial tariffs.
The expansion of BRICS, with new members including Iran, Saudi Arabia, and others, has raised concerns in the West about the potential for circumventing existing sanctions. The formation of a new currency could facilitate this, allowing nations like Russia and Iran to operate more freely outside the US-dominated financial system. However, the likelihood of a new currency actually materializing remains uncertain, considering the diverse economic and geopolitical interests within the BRICS alliance.
This move by Trump adds another layer of complexity to an already tense geopolitical landscape. It follows recent threats of significantly increased tariffs on goods from Mexico, Canada, and China, further escalating trade tensions. The conflicting statements following a phone call between Trump and Mexican President Claudia Sheinbaum highlight the friction between these nations.
The BRICS alliance, bolstered by its expansion, is viewed as a challenge to the United States’ global economic leadership, particularly by China and Russia. This latest threat from Trump underscores the growing competition and uncertainty in the global economic order.
