December 2, 2024
US President-elect Donald Trump has issued a strong warning to BRICS countries, urging them to avoid taking any steps that threaten the dollar’s position as the world’s dominant currency. His comments came via his own platform, Trust, and the X platform.
In his tweet, Trump said that attempts by BRICS countries to move away from the use of the dollar or challenge its dominance will not be tolerated. We demand that these countries commit not to create a new currency that competes with the dollar or support any foreign currency to replace it, and any such move will be met with tariffs of up to 100%, in addition to a complete denial of access to the US market.
Trump also stressed that the US dollar will remain the backbone of international trade, adding that any country seeking to replace it will pay a heavy price that may amount to losing economic relations with the United States.
Trump's remarks come as his new administration prepares to formally take office in 2025, amid escalating challenges facing the dollar globally as some countries seek to boost the use of local currencies in international trade. Read also:
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