BRICS required to commit to not creating new currency or face 100% tariffs during his administration.
President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration.
“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 US dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US Economy,” Trump posted on Truth Social on Saturday afternoon.
Can Trump follow up on his threat and how will the Brics group of countries likely react to this?
We were joined by ambassador Pius Dunaiski to unpack this…