President Donald Trump has reiterated his warning to impose 100 per cent tariffs on BRICS countries, including India, if they take steps to replace the US dollar in global trade.
Trump, who assumed office as the 47th President of the United States on Monday, stated, “If the BRICS nations want to do that, that’s okay, but we’re going to put at least a 100 per cent tariff on the business they do with the United States.” He further added that these countries “have a 100 per cent tariff if they so much as even think” about reducing the dollar’s role in global trade.
BRICS, an intergovernmental organization, comprises 10 countries: Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
In December, Trump had similarly cautioned BRICS nations against attempting to create a new currency or backing any alternative to the US dollar.
“We require a commitment from these countries that they will neither create a new BRICS currency nor support any other currency to replace the mighty US dollar, or they will face 100 per cent tariffs and should expect to say goodbye to selling into the wonderful US economy,” Trump had declared.
External Affairs Minister S. Jaishankar had responded in December, clarifying that India has never supported de-dollarisation and that there was no proposal to establish a BRICS currency.
On another note, Trump addressed immigration policies on Monday, expressing support for legal immigration.
“I’m fine with legal immigration. I like it. We need people, and I’m absolutely fine with it. We want to have it,” Trump said, emphasizing that his tariff policies would drive manufacturing expansion and increase the need for legal immigrants in the US.
