Trump threatens to confront BRICS if they try to weaken the dollar.
According to Al Jazeera, after World War II, the United States, backed by its powerful economy, used sanctions to target other countries. Since many international monetary and financial institutions operate with the support of the United States, these sanctions have had serious consequences for various countries. These countries have always sought to find a solution to counter the sanctions, the most important of which was replacing the dollar in international transactions.
Accordingly, US President Donald Trump warned the BRICS group about efforts to weaken the dollar.
Trump wrote on his page on the social network Truth: I ask the BRICS member countries not to create a new currency or support another currency to replace the strong US dollar.
The message continued: If the BRICS group tries to create a new currency or support another currency to replace the US dollar, the member countries will face a 100% tariff on goods and services exported to the US.
The BRICS group, originally founded with the world’s emerging economies of Brazil, Russia, India, China, and South Africa, is now accepting more members. With many of the group’s member countries, including Russia and Iran, under draconian US sanctions, finding a new currency to replace the dollar has gained much traction among BRICS members.