Trump warns of imposing a 100% tariff on BRICS countries if they ditch the U.S. dollar

President-elect Donald Trump threatened to impose a 100% tariff on the BRICS coalition if they move away from using the U.S. dollar for trade. The BRICS alliance consists of Brazil, Russia, India, China, and South Africa, with additional nations recently invited to join. The issue of “de-dollarization” has gained traction within the group, but experts are skeptical about the feasibility of creating a new global trade currency due to internal conflicts and economic differences among member nations. Despite this, some BRICS countries, such as China and India, are significant trading partners with the U.S. Trump also threatened to raise tariffs on Mexico, Canada, and China as part of his efforts to address the fentanyl crisis and drug imports. The recent meeting between Trump and Canadian Prime Minister Trudeau resulted in productive discussions on tackling drug-related issues. Mexican President Sheinbaum emphasized the need for cooperation rather than threats or tariffs to address migration and drug consumption. The discussions between Trump and Sheinbaum raised controversy over their agreement on immigration policies. Overall, Trump’s aggressive stance on tariffs and trade reflects his administration’s commitment to protecting U.S. interests in global trade and addressing drug-related challenges.

Photo credit
www.nbcnews.com