US President Donald Trump threatened BRICS member states on Thursday with 100% prices to dissuade them from replacing the US dollar as a reserve currency.
Trump had made a similar statement just after winning the November 2024 elections.
“We are going to demand a commitment from these apparently hostile countries that they will not create a new BRICS currency, nor to support any other currency to replace the powerful US dollar or, they will be confronted at 100%prices”, a- he declared on his social truth multimedia platform.
“There is no chance that BRICS will replace the US dollar in international trade, or elsewhere, and any trying country should say hello to the prices, and goodbye in America!” He added.
Brics and the US dollar
The Brics group consists mainly of Brazil, Russia, India, China and South Africa. In recent years, Egypt, the United Arab Emirates, Ethiopia, Iran and Indonesia have also joined the group, bringing the number of members to eleven.
It was formed in 2009 as a counter-domination by the United States and the Western allies.
The BRICS represent almost half of the world’s population and are considered a counterpart in the G7 country group.
The economic block was in talks on the introduction of another reserve currency, but the idea took momentum, especially after the West imposed sanctions on Russia because of its war in Ukraine .
The power of the US dollar in the world has recently been strengthened. There remains the main global reserve currency and there is a huge global dependence on this subject.
Trump threatens prices for Canada, Mexico,
Meanwhile, Trump said 25% prices would be imposed on imports from Canada and Mexico on Saturday, but he still plans to include oil from these countries as part of his import taxes.
“We can or not,” he told journalists at the Oval Office Thursday.
His decision is supposed to be based on the question of whether the oil prices billed by Washington two North American business partners are correct.
However, his decision is also influenced by his attempt to stop illegal immigration and the smuggling of chemicals used for fentanyl. The drug and other synthetic opioids have caused tens of thousands of deaths in the United States alone.
TG / ZC (AP, Reuters)
