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Trump threatens the BRICS countries: 100% tariffs for attempts to move away from the dollar


December, 02 2024
watermark Economic news

Donald Trump expressed concern about the intentions of the BRICS countries to create an alternative currency to the US dollar. He warned that in the case of such a step, he could introduce tariffs at the level of 100%. 


Trump also said that the idea that the BRICS states can move away from the dollar is no longer relevant. He urges these countries to guarantee that they will not develop a new currency for the BRICS and will not support any other currencies that could replace the powerful dollar. Otherwise, they risk losing access to the US market.


During his election campaign, Trump repeatedly stressed that moving away from the dollar would have serious consequences for countries that decided to take such a step. His team is discussing measures aimed at punishing both allies and opponents who want to conduct bilateral trade in their currencies, ignoring the dollar. Among the options under consideration are export restrictions, accusations of currency manipulation and various trade fees.


Trump has consistently argued that the US dollar should remain the global reserve currency. In an interview, he noted that he would not allow countries to move away from the dollar, as this would be a serious blow to the country's economy.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.