Trump Issues Strong Warning to BRICS Over Alternative Currency Plans
The president-elect has delivered a stern warning to the BRICS group, urging its members to halt efforts to develop a new currency intended to rival the US dollar in global trade.
In a post shared on his social media platform, Trump made it clear that the US would not tolerate attempts to undermine the dollar’s dominance. He threatened severe consequences, including imposing 100% tariffs on goods from BRICS countries and restricting their access to the US market if they proceed with plans for an alternative currency.
This warning aligns with Trump’s long-standing position to protect the US dollar’s status as the world’s primary reserve currency. His administration is reportedly considering punitive actions against countries seeking to reduce their reliance on the dollar.
BRICS, which includes Brazil, Russia, India, China, and South Africa, has been actively discussing de-dollarization since 2023. These discussions gained momentum at a summit where alternatives such as the Chinese yuan and blockchain-based stablecoins were proposed as potential substitutes for the US dollar. Such initiatives are seen as ways to bypass US sanctions and create new trade frameworks.
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Earlier this year, the BRICS group expanded its membership, admitting Iran, Saudi Arabia, the UAE, Ethiopia, and Egypt. With numerous other nations expressing interest in joining, the bloc aims to enhance its influence and create alternatives to the US dollar in international trade and finance.
However, Trump’s comments suggest that the US is prepared to escalate its opposition, signaling a potential shift in global economic relations and raising the stakes for the BRICS alliance.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
