Trump issued a warning on his social platform Truth Social, demanding that BRICS countries commit to not creating a new common currency and not supporting other currencies to replace the dollar, or they will face tariffs of up to 100% and lose access to the U.S. market. The BRICS countries, including Brazil, Russia, India, China, and South Africa, aim to weaken the dominance of Western countries in global affairs and promote a multipolar world order. In the financial sector, these countries have been seeking to reduce their dependence on the dollar and even consider creating a common currency, but progress has been slow due to disagreements over the transfer of sovereignty in monetary and economic policies among member countries.
At the recent BRICS summit, Russian President Putin stated that the idea of creating a unified currency would be temporarily set aside, believing that the plan is not yet mature. Trump's threats not only serve as direct pressure on BRICS countries but also reflect his concern for the global economic landscape, particularly the maintenance of the dollar's status as the primary global reserve currency.
In the cryptocurrency space, Trump's remarks may spark interest in digital currencies and other alternative currencies. As BRICS countries seek to reduce their dependence on the dollar, the rise of digital currencies could become a new financial tool that challenges the traditional monetary system. Trump's tariff threats and concerns about trade wars may accelerate countries' exploration of digital currencies as a way to respond to potential economic sanctions and market uncertainties. Therefore, the development of the cryptocurrency space is closely related to the international political and economic situation and may be influenced by Trump's policies in the future.
