Trump Threatens 100% Tariffs Over Potential BRICS Currency Plans

President-elect Donald Trump warns BRICS nations against creating a currency to rival the U.S. dollar, prompting responses from global leaders and financial experts.

• President-elect Donald Trump issued a statement threatening 100% tariffs on BRICS nations if they pursue a shared currency to replace the U.S. dollar in international trade.
• The Reserve Bank of India clarified that India is not pursuing de-dollarization, with officials emphasizing no decisions have been made about a BRICS currency.
• Experts note that the creation of a BRICS currency remains unlikely due to geopolitical tensions within the group and the economic advantages of remaining in the dollar-based system.
• Financial analysts warn that Trump's aggressive rhetoric could undermine trust in the U.S. as a reliable partner, potentially encouraging nations to explore alternatives to the dollar.
• The U.S. dollar currently dominates global trade and reserves, but analysts caution that domestic policies, including tariffs and fiscal mismanagement, pose risks to its long-term dominance.

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