Before his coronation, America’s newly elected President Donald Trump has threatened the BRICS countries. He has said that if BRICS countries support BRICS currency or any other currency instead of US dollar, then they will have to suffer the consequences. Donald Trump has given this information by tweeting on his social media platform ‘Truth Social’.
Trump said that we want a commitment from the BRICS countries that they will neither create a new BRICS currency nor support any other currency in place of the US dollar. If this happens, they will not only have to face 100 percent tariff. Not only this, we will also have to say goodbye to the sale of our goods in the American market. BRICS countries include Brazil, Russia, India, China and South Africa.
‘No other currency can replace US dollar’
Trump further said that there is no possibility that the BRICS currency will replace the US dollar in the international market and any country that tries to do so should say goodbye to America.
This statement of Trump can have a big impact on the world economy and the currency policy of the US. Recently, BRICS countries had expressed the possibility of strengthening their economic ties and considering other options instead of the dollar in international business.
Tariffs announced on China, Canada and Mexico
Since his historic victory in the US presidential elections, Donald Trump has been making new announcements one after the other. Recently Donald Trump had announced to impose tariffs on goods coming from China, Canada and Mexico. He had said that after assuming power, he would impose 10 percent tariff on goods coming from China and 25 percent tariff on goods coming from Canada-Mexico.