US President Donald Trump
US President Donald Trump, who is trying to intimidate the world by making a whip of tariff, has threatened the dollar ‘enemies’. He said that if such countries try to plot any conspiracy against the dollar, they would have to pay a heavy price. In fact, during an event at the White House, US President Donald Trump threatened the countries associated with BRICS countries to threaten that if they continue to reduce their dependence on the US dollar, an additional fee of 10 per cent would be imposed on their exports.
Trump said he wanted to try to capture the dollar. We will not let this happen. Trump’s remarks came during the new Cryptocurrency law signature ceremony. Although this law was focused on the new rules related to digital assets, the President used the opportunity to give a clear message to the emerging economies. He said that the price of challenging the dollar dominance will have to be paid.
Are BRICS countries afraid?
The BRICS alliance formed by Brazil, Russia, India, China and South Africa has now expanded to Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates. The group has discussed the use of local currency in business agreements to reduce dependence on US dollar, but Trump claims that the impact of his aggressive trade trend has already started appearing. He said that after I issued a warning, the attendance in his next meeting was very low. They did not want tariffs. He further emphasized his stance and warned that if there was no trade agreement by August 1, they will start sending official letters about the new tariff system to the BRICS countries.
India retaliated: ‘Not in de-deforation agenda’
BRICS founder member India immediately distanced the distance from “de-dollars”. On July 17, the Ministry of External Affairs clarified that the group was not actively trying to weaken the US dollar. Foreign Ministry spokesman Randhir Jaiswal said that yes, BRICS has talked about local currency about cross -border payments. But the de-deforation is not in the agenda. This shows a balanced response that member countries often have different views on the speed and scope of promoting optional currency within the BRICS.
Warning has been given earlier also
This is not the first time Trump has used a trade policy in the dollar defense. In 2024, he warned that if the BRICS country proceeds on the plan to make a joint currency that equals dollars, then 100 percent tariffs will be imposed on them. Friday’s comment reflects the continuity of the same strategy in which Monetary Dominance has been linked to aggressive economic enforcement. Trump said that I have attacked him very strongly, and it will end very soon. I don’t think they will do this. They are almost afraid of meeting.