Trump will not allow the creation of a currency that competes with the dollar

According to the new US president, the idea that BRICS members will try to abandon the dollar while the US stands by and watches is a thing of the past.

We are going to require a commitment from these seemingly hostile 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. They can go find another sucker Nation

Donald Trump

President of the United States

According to the head of the White House, "there is no chance that BRICS will replace the US dollar in international trade or anywhere else."

Donald Trump once again threatened that any country that tries to do this must say "hello" to tariffs and "goodbye" to America!

What is known about the BRICS plans?

What is important to understand is that BRICS is an alliance of the largest developing countries in terms of area and population. It was founded 16 years ago.

It is worth noting that it is official Moscow that is actively pushing other BRICS members to create a new currency for mutual settlements.

In this way, Russian dictator Vladimir Putin is trying to reduce dependence on the dollar and avoid the restrictions of international financial systems.

However, there is no unity among the BRICS members on this issue. China, although it supports the idea of strengthening the role of alternative currencies, is cautious about creating a common currency. India, in turn, is focused on domestic economic interests and is not willing to take risks.