Following his threats of tariffs to NAFTA countries, which sent guacamole lovers spinning into an avocado-priced panic, and Justin Trudeau on the first flight to Mar-a-Lago, Donald Trump is threatening BRICS countries with 100% tariffs on all exports to the United States should they move away from the US Dollar and back another currency.
The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they…
— Donald J. Trump (@realDonaldTrump) November 30, 2024
The entire post reads.
The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.
BRICS is an association of emerging economies. Brazil, Russia, India, China, and South Africa. The group was formed in 2009 as a cooperative to influence global economics. China is the dominant economic power, representing over 70% of the group's combined GDP.
China has been very open with its aspirations to challenge and overtake the United States as the world's predominant economic power.
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BRICS nations have discussed the development of an alternative global currency to replace the dollar, possibly a Blockchain cryptocurrency.
A 100% tariff on BRICS countries, especially China, would be the threat of a full-blown global trade war.
Even if the BRICS cannot offer an alternative global reserve currency to the dollar, the group is still making major inroads against the U.S.-led international order. https://t.co/2EBelMsigC
— National Interest (@TheNatlInterest) December 1, 2024
An all-out trade war between China and the United States could be disastrous for both countries' economies. The smaller and less stable economies of the other BRICS countries could be irreparably damaged.
The Russian 🇷🇺 Ruble has fallen 71% against the US 🇺🇸 Dollar over the last decade pic.twitter.com/3HqqKdV2ib
— Evan (@StockMKTNewz) November 30, 2024
The Ruble is already in trouble, and a trade war could very easily cause a complete collapse.
The currency of other BRICS countries isn't much better.
It's not just the russian ruble, every single BRICS currency seems to be on a freefall pic.twitter.com/zQX4kGBOko
— Joseph Graniczny (@GranicznyJoseph) November 27, 2024
Donald Trump won the election partly because the electorate believed he was the better choice to improve the economy. A trade war would make that far more challenging, as would the dollar's replacement as the global reserve currency.
Much like with NAFTA, it's more likely the threat of tariffs is an opening salvo for negotiation.
While we don't expect to see Xi Jinping flying to Florida any time soon, Brics will take notice.
Just IMAGINE Joe Biden trying to make a statement like this, he’d be laughed and mocked endlessly. Donald Trump tells the world to get in line and he’s taken it’ll happen because only Trump can put the world back in order. Trump will bring back financial prosperity to America 🇺🇸
— Wall Street Apes (@WallStreetApes) December 1, 2024
Things like this have worked for Trump in the past because, as crazy as it may sound, the whole world knows he's not bluffing. Biden has never had that kind of moxie.
AMERICA IS BACK BABY! 🇺🇸
— Nick Sortor (@nicksortor) November 30, 2024
It will be interesting to see where this goes come January, but America is back, and the world knows it.
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