He wrote: “We are going to require a commitment from these seemingly hostile 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 per cent tariffs, and should expect to say goodbye to selling into the wonderful US economy.”.
Trump repeats 100% tariffs threat to Brics nations if they attempt to replace dollar President Donald Trump attempted to renew his threat against a bloc of nine nations in case they tried to undermine the US dollar.
Mr Trump, who has already kicked off the imposition of tariffs on Canada and Mexico, demanded a firm commitment from Brics nations to cease any attempts to create a new currency or back existing currencies in competition with the US dollar.
While the US dollar remains the dominant currency in global trade and has withstood previous challenges to its supremacy, members of the alliance and other developing nations argue they are increasingly frustrated with America’s control over the global financial system.
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!”.
