Trump Asserts BRICS “Fading Out Fast”, Signals Economic Retaliation
(MENAFN) President Donald Trump asserted that the BRICS alliance is “fading out fast” while issuing a stark warning that any efforts by the group to undermine the US dollar would provoke a strong economic response.
At a White House briefing on Friday, Trump sharply criticized BRICS’ moves to challenge 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%.”
Emphasizing the critical role of the dollar, Trump insisted Washington will aggressively defend its supremacy. “The reserve currency is so important. You know, if we lost that, that would be like losing a World War.”
Trump added, “Washington can never let anyone play games,” underscoring his decision to “hit them [BRICS] very, very hard.” He further warned, “If they ever really form in a meaningful way, it will end very quickly.”
Despite Trump’s claims that his 10% tariff threat disrupted the BRICS summit in Rio de Janeiro—“They had a meeting the following day and almost nobody showed up”—the event saw significant attendance by top leaders. Although China’s President Xi Jinping did not attend, Chinese Premier Li Qiang represented Beijing, while Russian President Vladimir Putin participated remotely.
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, alongside leaders from Egypt, Ethiopia, Iran, and the UAE, were all present in person.
Data from October shows a dramatic shift in BRICS trade currency use: Russian Finance Minister Anton Siluanov reported national currencies now make up 65% of trade within the group, with the dollar and euro’s share dropping below 30%.
Earlier this week, Russian Foreign Minister Sergey Lavrov emphasized BRICS nations are pursuing alternatives to the dollar “to shield themselves from US arbitrariness.”
Nevertheless, Russian Deputy Foreign Minister Sergey Ryabkov noted that BRICS was never intended as a US rival, cautioning that “the language of threats and manipulation… is not the way to speak to members of this group.”
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
