DC Edit | Trump’s Brics threat is premature
1 month, 1 week ago

DC Edit | Trump’s Brics threat is premature

Deccan Chronicle  

US President-elect Donald Trump’s threat to levy 100 per cent duty on imports from Brics+ nations, if they chose to float an alternative global reserve currency to the US dollar, is premature and does not take into account ground realities. Eighty eight per cent of foreign exchange transactions take place in the dollar, 58 per cent of foreign currency reserves are held in the dollar, and 54 per cent of exports are paid in dollars. The Brics+ group’s share of global merchandise exports stood at 23.3 per cent in 2023, which is still less than the G7’s share of 28.9 per cent. Even if Brics+ does launch its common reserve currency, Mr Trump cannot impose 100 per cent duty because Brics holds 37 per cent of global GDP.

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History of this topic

Why Donald Trump should tame his love for tariffs
4 weeks, 1 day ago

Why Donald Trump should tame his love for tariffs

Firstpost  

It should be useful for the Trump administration to review the structural issues and excessive dependence on unilateral and punitive approaches that run counter to his own objectives of Making America Great Again in the short and medium term President Donald Trump loves tariffs, especially when he can unilaterally impose them as a dangling stick, hoping it might turn into …

'No proposal to have BRICS currency': Jaishankar reacts to Trump's 100 per cent tariff warning
1 month ago

'No proposal to have BRICS currency': Jaishankar reacts to Trump's 100 per cent tariff warning

India TV News  

External Affairs Minister Dr S Jaishankar on Saturday said that BRICS countries do not intend to weaken the US dollar and India has never been for de-dollarisation. His statement came in response to US President-elect Donald Trump's recent threats of imposing a 100 per cent tariff if BRICS countries went ahead with plans for a common currency. He threatened the …

On Trump's tariff threat, Jaishankar says India never for de-dollarisation
Top News
1 month ago

On Trump's tariff threat, Jaishankar says India never for de-dollarisation

India Today  

External Affairs Minister S Jaishankar on Saturday responded to President-elect Donald Trump's threat to impose a 100 per cent tariff on Brics countries, saying that India has no intentions of weakening the US dollar. Jaishankar's remarks came a week after Donald Trump posted on his Truth Social platform, seeking a commitment from Brics nations that they would not create a …

Trump Fires Early Warning Shot at Dollar’s Would-Be Challengers
1 month ago

Trump Fires Early Warning Shot at Dollar’s Would-Be Challengers

Live Mint  

Donald Trump has jumped straight into action as the defender of dollar power, training some heavy fire on an enemy that barely even exists. Asked a year ago about the trend among other countries to diversify away from the greenback, Yellen said it’s “something that we simply have to expect.” People close to him say Trump, by contrast, has decided …

After Donald Trump’s ‘go find another sucker’ comment for BRICS nations, UN agency warns of global trade war
1 month ago

After Donald Trump’s ‘go find another sucker’ comment for BRICS nations, UN agency warns of global trade war

Live Mint  

A United Nations agency has issued a warning about the potential for a global trade war following comments from US President-elect Donald Trump aimed at BRICS nations. Trump's remark, “Go find another sucker,” directed at—Brazil, Russia, India, China, and South Africa—has raised concerns about growing tensions in global trade. However, the agency cautioned that trade wars could undermine this progress …

How Trump is rethinking economic power
1 month ago

How Trump is rethinking economic power

Live Mint  

In September, Donald Trump made an impassioned defense of the dollar’s status as the world’s reserve currency: “If we lost the dollar as the world currency, I think that would be the equivalent of losing a war." Yet Trump’s defense of the dollar is a window into how he thinks the U.S. should exercise its economic power. “The more that …

Trump vows to defend U.S. dollar hegemony, but is it under threat?
1 month, 1 week ago

Trump vows to defend U.S. dollar hegemony, but is it under threat?

Raw Story  

U.S. President-elect Donald Trump has threatened retaliation against governments that challenge the US dollar, vowing "100 percent tariffs" on countries that undercut the US currency. "The US dollar remains as dominant as ever as a global funding currency, a payment currency for international transactions, and a reserve currency," said Eswar Prasad, a professor of international trade policy at Cornell University …

Should Brics worry about Trump’s threat?
1 month, 1 week ago

Should Brics worry about Trump’s threat?

Live Mint  

The president-elect of the US, Donald Trump, has threatened the Brics nations with 100% tariffs should they create their separate currency or back any other currency in their attempt to move away from the dollar. While Trump’s muscle-flexing over the dollar cannot be ignored, experts believe such an action is unlikely to be taken by the US for two reasons: …

India needs to be cautious on Trump threat of tariffs
1 month, 1 week ago

India needs to be cautious on Trump threat of tariffs

New Indian Express  

US president-elect Donald Trump’s latest beef about BRICS countries trying to create their own common currency to curb the dominance of the dollar is a typical Trumpian response to what looks like a non-issue. Trump has threatened the BRICS countries with 100 per cent duties on goods sold to the US by these countries if they go ahead with the …

Trump's tariff threats target BRICS nations
1 month, 1 week ago

Trump's tariff threats target BRICS nations

China Daily  

By HENG WEILI in New York | China Daily | Updated: 2024-12-03 09:36 People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — …

Trump's tariff threats target BRICS nations
1 month, 1 week ago

Trump's tariff threats target BRICS nations

China Daily  

By HENG WEILI in New York | China Daily | Updated: 2024-12-03 09:36 People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — …

Trump's tariff threats target BRICS nations
1 month, 1 week ago

Trump's tariff threats target BRICS nations

China Daily  

People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — that do not use the dollar as their reserve currency. "We require a …

Trump's tariff threats target BRICS nations
1 month, 1 week ago

Trump's tariff threats target BRICS nations

China Daily  

People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — that do not use the dollar as their reserve currency. "We require a …

Dollar challenge to Brics nations
Top News
1 month, 1 week ago

Dollar challenge to Brics nations

Hindustan Times  

Donald Trump will only take over the White House in January next year. ALLISON ROBBERT/Pool via REUTERS/File Photo After his proclamations of imposing tariffs on countries such as Canada and Mexico on his first day in office, Trump has now warned Brics countries against attempts to float any other currency to challenge the dollar’s hegemonic status. To give an example, …

How far Donald Trump’s BRICS tariff threat can become a reality
1 month, 1 week ago

How far Donald Trump’s BRICS tariff threat can become a reality

Firstpost  

Too many overlapping tariffs are likely to harm American interests by raising domestic consumer prices. To put American interests first, President Trump might have to balance his initiatives in Trump 2.0 and distinguish sharply between friend and foe Trump wants reciprocity from perceived friends in Europe, the EU, and NATO, as well as strategic partners such as India and Taiwan …

Why is Donald Trump threatening Brics members against de-dollarisation?
Top News
1 month, 1 week ago

Why is Donald Trump threatening Brics members against de-dollarisation?

Firstpost  

Donald Trump has demanded that Brics members promise not to create a new currency or support another currency to replace the United States dollar as the world’s reserve currency. Trump has demanded that Brics member nations promise not to create a new currency or support another currency to replace the United States dollar. “We require a commitment from these countries …

Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv
1 month, 1 week ago

Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv

Live Mint  

Hyderabad, President-elect Donald Trump’s warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US law permits such an action, former RBI Governor Duvvuri Subbarao said on Monday. The nine-member group …

Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics
1 month, 1 week ago

Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics

Live Mint  

India has stayed off US President-elect Donald Trump’s target range so far, but Brics was the focus of his latest finger-wag. On Saturday, he asked the group’s members to commit that “they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar", or else “they will face 100% Tariffs and should expect …

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao
1 month, 1 week ago

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao

New Indian Express  

HYDERABAD: President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said …

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao
Trending News
1 month, 1 week ago

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao

New Indian Express  

HYDERABAD: President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said …

“Find another sucker”: Trump threatens 100% tariff on countries that resist U.S. dollar
1 month, 1 week ago

“Find another sucker”: Trump threatens 100% tariff on countries that resist U.S. dollar

Salon  

President-elect Donald Trump's tariff threats continued on Saturday with a pledge to enact 100% tariffs on a bloc of nine countries if they shift away from the U.S. dollar in international trade. “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 U.S. Dollar,” Trump …

Trump's hollow threat: How BRICS sidelined 'wonderful economies' over time
1 month, 1 week ago

Trump's hollow threat: How BRICS sidelined 'wonderful economies' over time

India Today  

Even before being sworn in as the 47th President of the United States, Donald Trump threatened BRICS nations with a 100 per cent tariff. US in huge trade deficit with BRICS nations While Trump has threatened BRICS nations with a 100 per cent tariff, if sales don’t go down despite this, the US will end up doubling its trade deficit …

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI
1 month, 1 week ago

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI

Live Mint  

New Delhi, Dec 1 The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday. "Trump's threat to impose 100 per cent tariffs on countries …

Donald Trump seeks ‘commitment’ from BRICS on using US Dollar or else ‘should expect to say goodbye to…’
1 month, 1 week ago

Donald Trump seeks ‘commitment’ from BRICS on using US Dollar or else ‘should expect to say goodbye to…’

Hindustan Times  

US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff. “The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch …

'Go find another sucker': Trump's message to BRICS members, which includes India
1 month, 1 week ago

'Go find another sucker': Trump's message to BRICS members, which includes India

Hindustan Times  

Donald Trump, the next president of the United States, said on Saturday that BRICS countries can ‘go find another sucker’ if they cannot commit that they will neither create a new currency of their own, nor back any other currency “to replace the mighty US Dollar”. US President-elect Donald Trump Formed in 2009, BRICS is an intergovernmental organisation comprising nine …

Trump threatens to impose 100% tariff on BRICS nations if they pursue de-dollarisation
Top News
1 month, 1 week ago

Trump threatens to impose 100% tariff on BRICS nations if they pursue de-dollarisation

Firstpost  

US President-elect Donald Trump warned BRICS nations that Washington will impose 100 per cent trade on them if they pursue the idea of de-dollarisation, put forward by Russia and China Amid the looming trade wars with Mexico and Canada, US President Donald Trump warned that he will impose a whopping 100 per cent tariffs on BRICS nations unless their governments …

Trump Warns BRICS Countries Of 100% Tariffs If They Replace US Dollar
1 month, 1 week ago

Trump Warns BRICS Countries Of 100% Tariffs If They Replace US Dollar

ABP News  

President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar and has sought a commitment from the nine-member group that includes India, Russia, China, and Brazil. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” the president-elect said in a post …

Donald Trump vows 100% tariff on BRICS countries if...: ‘Go find another sucker’
Top News
1 month, 1 week ago

Donald Trump vows 100% tariff on BRICS countries if...: ‘Go find another sucker’

Live Mint  

US President-elect Donald Trump has vowed 100% tariff on BRICS countries if they make any move to replace the US dollar and sought a commitment from the nine-member group that includes India, Russia, China, and Brazil. Over the past few years a few of its member countries, in particular Russia and China, are seeking an alternative to the US Dollar …

US President-elect Trump threatens BRICS nations with 100 per cent tariffs over plans to replace dollar
1 month, 1 week ago

US President-elect Trump threatens BRICS nations with 100 per cent tariffs over plans to replace dollar

New Indian Express  

NEW DELHI: U.S. President elect Donald Trump on Sunday said that BRICS countries trying to move away from dollar will face 100 per cent tariffs. 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 U.S. Dollar or, they will face 100 per cent tariffs …

Trump threatens BRICS nations with 100 per cent tariff against replacing US Dollar
Top News
1 month, 1 week ago

Trump threatens BRICS nations with 100 per cent tariff against replacing US Dollar

India TV News  

President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar. He threatened the member countries of 100 per cent tariff imposition for such an attempt while seeking a commitment from the nine-member group that includes India, Russia, China, and Brazil. “We require a commitment from these Countries that they will neither create a new …

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar
1 month, 1 week ago

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar

India Today  

As Donald Trump returns to the White House in January 2025, his aggressive trade stance - the latest now being a 100 per cent tariff threat on Brics nations, including India, if they went ahead to develop their own currency to undermine the US dollar's dominance - has already created ripples in the global economy. Trump's 100 per cent tariff …

'Blood will emerge from my ear': Experts pounce on Trump's new 'weaponization' threat
1 month, 1 week ago

'Blood will emerge from my ear': Experts pounce on Trump's new 'weaponization' threat

Raw Story  

Donald Trump Saturday made a threat to foreign countries on social media, leading one expert to say it amounts to "weaponization of the dollar." Trump over the weekend took to Truth Social, saying, "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 …

Trump threatens 100% tariff on BRICS countries, which includes India; demands ‘commitment’
1 month, 1 week ago

Trump threatens 100% tariff on BRICS countries, which includes India; demands ‘commitment’

Hindustan Times  

US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff. Donald Trump on his campaign trail pledged that he would make it costly for countries to move away from the …

Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar
Trending News
1 month, 1 week ago

Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar

Associated Press  

WEST PALM BEACH, Fla. — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. Trump, in a Truth Social post, said: “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 U.S. …

Trump threatens 100% tariff on multiple countries, including India, if they...
1 month, 1 week ago

Trump threatens 100% tariff on multiple countries, including India, if they...

Firstpost  

“We require a commitment from these Countries that they will neither create a new…Currency, nor back any other Currency to replace the mighty U.S. Dollar,” Trump wrote on Truth Social US President-elect Donald Trump has threatened to slap India, and other BRICS countries, with 100% tariffs. In a post on his social media platform Truth Social on Saturday, he wrote, …

Trump threatens 100% tariff on BRICS countries if they pursue creating new currency
1 month, 1 week ago

Trump threatens 100% tariff on BRICS countries if they pursue creating new currency

CNN  

CNN — 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. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency …

BRICS announces induction of 6 nations: What is its significance and will it change world order? EXPLAINED
1 year, 4 months ago

BRICS announces induction of 6 nations: What is its significance and will it change world order? EXPLAINED

India TV News  

The BRICS group, in its Summit in South Africa’s Johannesburg, took a huge leap in the expansion of its reach through the announcement that it has invited six other countries - mostly from the Middle East, to be a part of the bloc of emerging economies. The six nations that have been extended an invitation to join the BRICS include …

Can BRICS dethrone the US dollar? It’ll be an uphill climb, experts say
1 year, 4 months ago

Can BRICS dethrone the US dollar? It’ll be an uphill climb, experts say

Al Jazeera  

The world’s reserve currency is facing a challenge from Global South countries who want options beyond the greenback. The impetus for Global South countries trying to find an alternative is more a “practical consideration” than a moral one, said Gustavo de Carvalho, a policy analyst on Russia-Africa ties at the South African Institute of International Affairs, as they view the …

Dollar hegemony prompts BRICS rethink
1 year, 4 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Dollar hegemony prompts BRICS rethink
1 year, 4 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Emerging markets to lead global governance reform
1 year, 4 months ago

Emerging markets to lead global governance reform

China Daily  

MA XUEJING/CHINA DAILY The 15th BRICS Summit in Johannesburg, South Africa, from Tuesday to Thursday, is the first offline meeting of BRICS in the post-pandemic era — the last three were held under the chair of Russia, India and China in the virtual format due to the COVID-19 pandemic. Economic relationships between the BRICS countries have been formalized by the …

Can BRICS create a new world order?
1 year, 4 months ago

Can BRICS create a new world order?

Al Jazeera  

Dozens of nations want to join the five-nation club. Starting Tuesday, leaders of the group of nations known as the BRICS – Brazil, Russia, India, China and South Africa – are meeting for a three-day summit, which is expected to draw eyeballs from capitals around the world. ‘Voice’ of the Global South In opening remarks at the BRICS foreign ministers …

BRICS pitches for using local currencies in international trade
1 year, 7 months ago

BRICS pitches for using local currencies in international trade

India TV News  

Cape Town: The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. The joint statement titled 'The Cape of Good Hope', said ministers expressed their support for a free, open, transparent, inclusive, equitable, non-discriminatory and rules-based multilateral trading system with the …

Are we seeing a de-throning of the dollar?
1 year, 8 months ago

Are we seeing a de-throning of the dollar?

Hindustan Times  

Since early 2023, the international currency discussion has gained enormous traction. Further, in January 2023, several countries in South East Asia also deliberated over how to circumvent the US currency dominance; meanwhile, the dollar continues to gain strength. However, since the US dollar exchange rates have reached the highest in 20 years amongst the kitty of currencies, this rapid rise …

“Market acceptance will be key test for alternative to dollar”
2 years, 6 months ago

“Market acceptance will be key test for alternative to dollar”

The Hindu  

Sentiment of the market will be the ultimate test for a new global reserve currency that the BRICS member states are considering as an "alternative" to the American dollar, said a leading expert of BRICS affairs. Venkatesh Varma said on Thursday that national currencies are likely to play a greater role for trade within BRICS, but it is "impractical" to …

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