Associated Press
President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar.
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.
Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining.
While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.
Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.”
At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.”
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Republished with permission of the Associated Press.
4 comments
EARL PITTS " THE BIG VOICE ON THE RIGHT " AMERICAN
November 30, 2024 at 3:33 pm
Good afternoon Sage Patriots & Earl’s Besty Lefties,
These “DOOK” Nations of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates, will all be falling over themselves to be the first to “Come To America” on “Bended Knee” to “Kiss The Ring” of “The Great World Leader” Donald J. TRUMP!!!
MARK MY WORDS:
I, EARL PITTS ” THE BIG VOICE ON THE RIGHT ” AMERICAN, Have Spoken.
Thank you, Sage Patriots & Earl’s Besty Lefties,
EARL PITTS ” THE BIG VOICE ON THE RIGHT ” AMERICAN
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PeterH
November 30, 2024 at 3:46 pm
Trump’s endorsement of the bitcoin pyramid scheme has accelerated BRIC’s advancement of a new currency to pin to a new international currency standard. This is not breaking news ….. China is leading way to encourage the international community to pin their currencies against the value of the Yuan.
MarvinM
November 30, 2024 at 5:42 pm
They won’t have to do it, Trump will tank the value of the US dollar all on his own.
Sure hope he doesn’t try to do some crypto currency nonsense deals Musk and Trump’s son Barron (and maybe Eric, if Barron wants to work with Eric).
There’s still time for you to buy a new mattress before the prices go way, way up. You’re gonna need a place to stash your cash because the market is going to go down, the economy is going to contract, the debt from his tax cuts will mushroom beyond what any proposed DOGE cuts could even start to make a dent in, he might even cut medicare and medicaid (or not give medicare recipients a cost-of-living increase) and take away people’s ability to get health insurance
by cutting off ACA subsidies before coming up with a new and completely comprehensive alternative plan (No, “tort reform” and “block grants” is not a comprehensive plan), and when he gets rid of the CFPB, your banking institutions will charge even more exorbitant fees than they are now, and you will have no recourse.
But all that is what you voted for if you voted for Trump.