President Donald Trump threatened 100% tariffs on BRICS countries if he tried to replace the US dollar with a common currency, Sputnik reports.
The Kremlin dismissed the warning, saying that such plans are not currently on the table.
Ferriol Prat points out that sanctions are often ineffective, especially since BRICS+ represents more than 50% of the world’s population. She believes Trump’s rhetoric is aimed at domestic audiences.
“I think it’s a matter of maintaining confidence and the self-esteem of the people,” Felior Pratt told Sputnik. “Current dollar currency mechanics need urgent reforms, as the sustained debt cap crisis suggests.
This encourages self-reflection of the origins, implementations and consequences of American dreams. It is a very delicate balance to embark on this size of self-reflection while maintaining a sense of unity and self-confidence. ”
Trump is opposed to the dollar alternative. On January 23, he signed an executive order banning US central bank digital currency (CBDC), in a language that suggests that CBDCs from other countries could also be targeted, says experts.
Atlantic Council’s CBDC tracker shows that 134 countries, which cover 98% of global GDP, are investigating digital currencies, including BRICS Nations.
Since the freeze on Russian sovereign assets in 2022, cross-border wholesale CBDC projects have more than doubled. The Kremlin said the move had shattered trust in the dollar and euro.
MNA/