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US President Donald Trump threatens 100% tariffs against BRICS countries over plans to reduce dollar dependence. Read more.
Donald Trump Warns 100% Tariff Against BRICS
US President Donald Trump has issued a stern warning to BRICS nations, including India, against any plans to replace the US dollar in global trade. He stated that such actions would lead to a 100% tariff on their business with the United States.
Trump’s America First Agenda
Taking office as the 47th President, Trump reaffirmed his commitment to the “America First” agenda. He warned BRICS members that even considering reducing the dollar’s global role would result in hefty tariffs. Trump emphasized the need to protect the US economy and maintain the dollar’s dominance.
India’s Stance on BRICS Currency
India’s External Affairs Minister, S. Jaishankar, previously clarified that India is not pursuing de-dollarization or a BRICS currency. Trump’s tariff threats aim to prevent any potential moves by BRICS nations to challenge the dollar’s supremacy.