Donald Trump expressed concern about the intentions of the BRICS countries to create an alternative currency to the US dollar. He warned that in the case of such a step, he could introduce tariffs at the level of 100%.
Trump also said that the idea that the BRICS states can move away from the dollar is no longer relevant. He urges these countries to guarantee that they will not develop a new currency for the BRICS and will not support any other currencies that could replace the powerful dollar. Otherwise, they risk losing access to the US market.
During his election campaign, Trump repeatedly stressed that moving away from the dollar would have serious consequences for countries that decided to take such a step. His team is discussing measures aimed at punishing both allies and opponents who want to conduct bilateral trade in their currencies, ignoring the dollar. Among the options under consideration are export restrictions, accusations of currency manipulation and various trade fees.
Trump has consistently argued that the US dollar should remain the global reserve currency. In an interview, he noted that he would not allow countries to move away from the dollar, as this would be a serious blow to the country’s economy.