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'Say Hello to Tariffs, Goodbye to America,' Donald Trump Slams BRICS Nations Over Threat to US Dollar Dominance

Donald Trump has issued a sharp warning to BRICS nations, threatening 100% tariffs if they attempt to challenge the U.S. dollar. As BRICS pushes for de-dollarisation, India's trade ties with the U.S. could face major consequences.

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Donald Trump

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U.S. President Donald Trump, known for his aggressive trade policies, has once again targeted BRICS nations, including India, China, Russia, and Brazil. With BRICS working toward reducing dependence on the U.S. dollar, Trump has warned of imposing 100% tariffs on these countries. His statement has sparked concerns about the future of global trade and economic ties. If such a policy is enforced, it could have a significant impact on nations like India, which maintains strong trade relations with the U.S.

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BRICS and the Move Away from the U.S. Dollar

BRICS nations have been working on reducing their reliance on the U.S. dollar for international trade. The discussion about a BRICS currency gained traction during the 2023 BRICS Summit. Many believe that if BRICS introduces a new currency, the dominance of the U.S. dollar could weaken. This shift has raised alarms in the U.S., leading to strong reactions from Donald Trump.

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Trump recently posted on his social media platform, Truth Social, stating that BRICS countries must commit to not replacing the dollar. He warned that any nation supporting an alternative currency would face 100% tariffs and restrictions in the U.S. market. This declaration has added to the ongoing debate over de-dollarisation and its potential consequences.

How India Could Be Affected by Trump’s Tariff Threat

India has strong trade relations with the U.S. In the financial year 2023-24, India exported goods worth $41.6 billion to the U.S., while the total bilateral trade stood at $118.3 billion. A 100% tariff on Indian goods could severely impact exports, especially in key sectors like IT services, pharmaceuticals, and textiles.

While BRICS continues to explore alternatives to the dollar, Trump's hard stance highlights the challenges of shifting global financial dynamics. If these tensions escalate, countries like India will have to navigate a complex economic landscape while maintaining balanced trade relations with both BRICS allies and the U.S.

BRICS US Dollar Donald Trump
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