this post was submitted on 30 Nov 2024
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Summary

Trump has threatened 100% tariffs on BRICS nations (Brazil, Russia, India, China, South Africa, and others) if they pursue de-dollarization efforts, including creating a new currency to challenge the U.S. dollar’s dominance in global trade.

Trump warned these nations could lose access to the U.S. economy.

BRICS members, frustrated by U.S. financial dominance, have explored alternatives, with Russia advocating for a new payment system to bypass sanctions.

Analysts say the dollar’s global reserve status remains secure in the near term despite these challenges.

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[–] Kolanaki@yiffit.net 17 points 2 weeks ago

"This place is so palatial. I had to walk around the entire regalia!"