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U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar ...
Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a threat of 100% tariffs he had made weeks after winning the November ...
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 ...
In November 2024 in a post on Truth Social, United States president-elect Donald Trump threatened a 100% United States tariff on countries that pursued a BRICS currency or moved to favor another currency instead of the U.S. dollar. [202] [203] As US President he announced the same on his first day in office during his second term.
These countries are observer states that are not yet officially part of the BRICS bloc, yet would get support from BRICS members. These observer states must prove themselves as partners before possibly integrating as a member, similar to the accession process of the Shanghai Cooperation Organization. [8] 13 states were invited to be formal ...
Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. [1] It also entails the creation of an alternative global financial and technological system in order to gain more economic independence by circumventing the dependence on the Western World-controlled systems, such as SWIFT financial transfers network for ...
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