archiveBRICS Currency

Russia on Friday dismissed a renewed threat from US President Donald Trump to impose tariffs on the BRICS group of nations if it were to establish its own currency, stating that no such plan existed. On Thursday, Trump reiterated his warning to BRICS member countries against replacing the US dollar as a reserve currency, repeating a threat of 100 per cent tariffs that he had first made weeks after winning the November presidential election. However, Kremlin spokesperson Dmitry Peskov clarified that BRICS, of which Russia is a member, was not...

United States President Donald Trump Friday repeated his intention to impose 100% import tariffs on the BRICS (Brazil, Russia, India, China, and South Africa) countries if they took any steps towards cutting the use of the dollar in global trade. In a post shared on social media platform Truth Social, Trump declared that the United States would not stand idly by while the BRICS bloc pursues the development of an alternative currency. Trump, who has already kicked off imposition of tariffs on Canada and Mexico, demanded a firm commitment from...