Trump Threatens 10% Tariff on BRICS Supporting Countries: Does This Encourage the Rise of Crypto?
President Donald Trump recently announced plans to impose a 10% tariff without exceptions on countries that support the "anti-American" agenda of the BRICS bloc. This move adds to global trade tensions and could potentially trigger a significant shift in the international payment system.
In response, BRICS countries are increasingly working on developing dollar-free payment pathways, including the use of Central Bank Digital Currencies (CBDCs), gold-based settlement systems, and even the integration of Bitcoin in cross-border trade. These initiatives aim to reduce reliance on the US dollar and avoid the influence of American economic policies.
The impact on the crypto market is quite intriguing. Although tariffs typically create volatility and short-term price declines, in the long run, this policy could actually encourage the adoption of digital assets as a hedge. Bitcoin and gold-based assets are increasingly viewed as safe alternatives amid geopolitical and economic uncertainty.
With BRICS strengthening their digital payment ecosystem, including the launch of gold-backed CBDCs, crypto stands to become an important part of a new, more multipolar global financial system free from dollar dominance.
In short, while Trump's tariffs create initial pressure, this move could indirectly serve as a positive catalyst for the development and adoption of cryptocurrency in the future.