The battle between BRICS countries and President-elect Donald Trump over the dominance of the US dollar in global trade is becoming increasingly tense as both sides prepare for potential economic impacts.
BRICS countries are actively taking action to reduce dependence on the US dollar. In response, Trump has issued a strong warning, threatening to impose 100% tariffs on goods from these countries if they proceed with alternative financial systems.
Strategic Security of BRICS
Russian Deputy Foreign Minister Sergey Ryabkov has addressed Trump’s threats, affirming that BRICS is not trying to directly challenge the US dollar but rather responding to US economic policies.
In an interview with Tass, Ryabkov explained that the bloc’s actions are the result of Washington’s decisions, disrupting the stability of the global financial system.
Ryabkov agrees with the position of Russian President Vladimir Putin, accusing the United States of undermining global economic stability with harmful policies.
Trump Issues Strong Last-Minute Letter
Tension escalated at the beginning of this month when Trump made a firm statement about the global role of the dollar. He called on BRICS countries to cease efforts to implement alternative currencies or create a new financial system.
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Trump warned that any country supporting such initiatives would face a 100% export tax to the United States, effectively cutting them off from the US market.
The Economic Consequences of Trump’s Threats
The measures proposed by Trump have raised concerns in the economic community. Experts warn that such policies could disrupt global trade, increase costs for American consumers, and contribute to inflation.
Countries like Malaysia have expressed concerns that taxes may affect the market, prompting BRICS countries to accelerate the development of alternative financial systems. If successful, this could reduce the dominance of the US dollar in the international market.
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