United States (US) President Donald Trump said on Thursday, February 13, that the idea of undermining the dollar no longer holds.
Trump told reporters at the White House that BRICS nations – comprising Brazil, Russia, India, China, and South Africa, and constitute an important alliance of developing nations that have gained prominence on the global stage – could face tariffs from the US if they set up their own currency.
He warned nations aiming to set up their own currency that “if they want to play games with the dollar”, they will be subject to 100 per cent tax hike by the US.
“If any trading gets through, it’ll be 100% tariff, at least,” he said.
In January, Trump wrote on his Truth Social platform that he would impose 100 per cent customs duties on goods from BRICS member states should the BRICS alliance move away from the dollar.
