Trump warns BRICS against challenging US dollar supremacy
(MENAFN) President Donald Trump has issued a strong warning to the BRICS alliance, dismissing its influence while threatening punitive measures against member nations attempting to challenge the supremacy of the US dollar.
During a speech at the White House on Friday, Trump accused BRICS of trying to destabilize the dollar’s global dominance. “They wanted to try and take over the dollar, the dominance of the dollar... And I said, anybody that’s in the BRICS consortium of nations, we're going to tariff you 10%,” he declared.
Trump emphasized that the United States would do whatever it takes to safeguard the dollar’s position as the world’s reserve currency. “The reserve currency is so important. You know, if we lost that, that would be like losing a World War.”
Reiterating his stance, he added, “can never let anyone play games,” and vowed to “hit them [BRICS] very, very hard.” He further asserted, “If they ever really form in a meaningful way, it will end very quickly.”
Trump also claimed that his warning of a 10% tariff on BRICS nations had significantly disrupted their recent summit held in Rio de Janeiro. “They had a meeting the following day and almost nobody showed up,” he stated.
Despite Trump’s remarks, the BRICS summit was well-attended by top officials. Although Chinese President Xi Jinping and Russian President Vladimir Putin did not attend in person, China was represented by Premier Li Qiang, while Putin addressed the gathering virtually. Other major figures present included Brazil’s President Luiz Inacio Lula da Silva, India’s Prime Minister Narendra Modi, South Africa’s President Cyril Ramaphosa, Indonesia’s President Prabowo Subianto, and leaders from Egypt, Iran, Ethiopia, and the UAE.
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