support@headlinenews360.com
Tariff Threat: With Donald Trump becoming President in January, the world may face another wave of trade tariff war. US President-elect Donald Trump has threatened to impose 100% tariffs on BRICS countries if they reject the US dollar or start using any other currency for international transactions. These countries include India, Russia, Brazil, China, South Africa and others. According to the information, Trump’s comment came after the BRICS meeting in October in which promoting non-dollar transactions was discussed.
Donald Trump said in an online post that he cannot see the BRICS countries withdrawing from the US dollar. He said, “The efforts of BRICS countries to move away from the dollar will no longer be tolerated. We need these countries to ensure that they will not create any new BRICS currency nor allow any other currency to replace the US dollar. No. “So they will face 100% tariffs and will be cut off from doing business in the US economy.”
BRICS countries’ proposal to move away from dollar and Trump’s warning
BRICS countries had considered promoting non-dollar transactions and strengthening local currencies at their summit held in Kazan, Russia in October. A joint announcement was also made in this meeting in which it was talked about strengthening the banking network between BRICS countries and taking steps for trade in local currencies. However, Russian President Vladimir Putin made it clear at the end of the conference that at present no alternative system has been created compared to the SWIFT financial system.
Protest over the policy of India and other BRICS countries to move away from dollar
India is also not in favor of moving away from the dollar. India’s Foreign Minister S. Jaishankar had said in October that this is not a part of India’s economic policy or strategic policies. However, he also said that if trading partners do not accept dollars or problems arise due to trade policies, then alternative measures are considered.
Increased concern about duty on India
India’s trade tariff system has troubled Trump in the past and Brazil and China have also been his targets. “Reciprocity” figures prominently in Trump’s proposed tariff plan for 2025, which aims to take tough action against protectionist policies. A month before the election, Trump made it clear that this “reciprocity” was the most important part of his plan to make America “more prosperous.”
Trump’s comments for India
Trump had said about India that “India is the country that imposes the biggest tariff”, although he Narendra Modi And also appreciated India-America relations. He said that India charges higher duty than China, but it is done with a smile and they express gratitude when they buy goods from India. Trump’s clear message in this whole matter is that if BRICS countries try to distance themselves from the dollar, they will have to face serious consequences and the possibility of harming American business cannot be ruled out.
