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.

Summary

Trump has threatened 100% tariffs on BRICS nations (Brazil, Russia, India, China, South Africa, and others) if they pursue de-dollarization efforts, including creating a new currency to challenge the U.S. dollar’s dominance in global trade.

Trump warned these nations could lose access to the U.S. economy.

BRICS members, frustrated by U.S. financial dominance, have explored alternatives, with Russia advocating for a new payment system to bypass sanctions.

Analysts say the dollar’s global reserve status remains secure in the near term despite these challenges.

  • Windex007@lemmy.worldEnglish
    1061·
    21 days ago

    What has always made the dollar so attractive is the perception of US stability and predictability; the idea that the USA really did want to facilitate truly global trade.

    Trump weaponizing tariffs and otherwise acting like a lunatic (and that the electorate put him in twice) is really shattering to the fundamental rationale for using the USD as the defacto global currency.

    • bitwise@lemmy.caEnglish
      21·
      20 days ago

      Working as intended.

      All while providing an “obvious” foil for the educationally challenged to pretend that he’s trying his best in good faith, when the destruction of US hegemony is entirely his handler’s goal.

      • CitizenKong@lemmy.worldEnglish
        9·
        20 days ago

        Yep, this will go down in the history books as an incredible feat of non-confrontative “silent” warfare by Putin against the entire West. If there are still history books in the future.

        • nova_ad_vitum@lemmy.caEnglish
          5·
          20 days ago

          The money and resources Putin spent on Trump have yielded a far far better return than it could have had he spent it on his own military.