His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Summary

Trump has threatened 100% tariffs on BRICS nations (Brazil, Russia, India, China, South Africa, and others) if they pursue de-dollarization efforts, including creating a new currency to challenge the U.S. dollar’s dominance in global trade.

Trump warned these nations could lose access to the U.S. economy.

BRICS members, frustrated by U.S. financial dominance, have explored alternatives, with Russia advocating for a new payment system to bypass sanctions.

Analysts say the dollar’s global reserve status remains secure in the near term despite these challenges.

  • blindbunny@lemmy.mlEnglish
    311·
    23 days ago

    Donny’s last trade war lost U.S. steel. What well his tariffs loss look like for Americans?