Trump Warns BRICS of 100% Tariffs Over Dollar Replacement Plans

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Source: The Daily Beast
Trump Warns BRICS of 100% Tariffs Over Dollar Replacement Plans
Photo: The Daily Beast
TL;DR Summary

President-elect Donald Trump has threatened to impose 100% tariffs on BRICS countries, including Russia and China, unless they commit to using the U.S. dollar as their reserve currency. This move comes as the BRICS nations have been exploring alternatives to the dollar for global trade, a concept known as 'de-dollarization.' Trump's ultimatum follows discussions with Canadian and Mexican leaders about tariffs related to migration and drug trafficking issues. Economists remain skeptical about the BRICS' ability to create a currency that could rival the dollar.

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