In a fiery and unambiguous declaration, President Donald Trump has asserted that the BRICS alliance was explicitly formed with the intention of dismantling the dominance of the US dollar. Speaking to reporters and during a recent Cabinet meeting, the President warned that such efforts constitute a "major world war" that the United States "will not lose." โ๏ธ๐ก๏ธ
President Trump's strong remarks come amidst escalating rhetoric surrounding the BRICS bloc, which recently expanded its membership and has openly discussed increasing trade in local currencies and exploring alternatives to the dollar for international transactions. ๐๐
"BRICS was set up to hurt us, to degenerate our dollar," President Trump stated, adding, "If we lost the world standard dollar, that would be like losing a war, a major world war; we would not be the same country any longer." He vowed to prevent such an outcome, emphasizing that "dollar is king, we're going to keep it that way." ๐๐ช
To counter what he perceives as a direct assault on American economic supremacy, President Trump has reiterated his threat of imposing a 10% tariff on all goods from BRICS nations, with an explicit warning that there will be "no extensions" to this new tariff, which he indicated would take effect soon, potentially by August 1, 2025. He previously warned of even higher tariffs, up to 150%, for any BRICS state that "even mentions the destruction of the dollar." ๐ธ๐ซ
The President clarified that this tariff would apply to all BRICS members, including significant trade partners like India. "If India is a part of BRICS, they'll have to pay the additional 10% tariffs soon to be imposed on the bloc," he stated.
BRICS, initially formed by Brazil, Russia, India, China, and South Africa, has recently welcomed new members including Iran, Egypt, Ethiopia, Indonesia, and the United Arab Emirates, further increasing its economic and geopolitical weight. While the bloc maintains that its efforts are aimed at fostering a more multipolar world and a fairer international financial system, President Trump views their de-dollarization agenda as a direct challenge to US interests. ๐โ๏ธ
This assertive stance from the White House signals a deepening economic confrontation, as the US signals its readiness to use tariffs as a powerful tool to protect the dollar's global standing. The coming months are likely to see increased tension as both sides navigate this high-stakes global economic chess match. โ๏ธ๐จ
