If they attempt to replace the US dollar with a new currency, they'll face a whopping 100% tariff on their goods ¹. This move is a clear indication that the US won't tolerate any attempts to weaken the dollar's position as the global reserve currency.
The BRICS nations have been exploring alternatives to the dollar, discussing new trading channels and possibly implementing a single currency for intra-BRICS trade. Trump's warning emphasizes the US's commitment to protecting the dollar's dominance.
The Impact of Trump's Tariff Threats:
- Higher Costs: American companies and consumers may face higher costs due to the tariffs.
- Retaliatory Actions: The BRICS nations may retaliate with their own tariffs, escalating trade tensions.
- Global Economic Consequences: The tariffs could have far-reaching consequences for the global economy, including reduced trade and economic growth.
While it's unclear whether Trump would actually impose the tariffs, his warning sends a strong message about the US's commitment to protecting the dollar's dominance.
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