Official statements from BRICS or credible news sources covering BRICS economic policies

Kremlin's Dmitry Peskov Rejects Trump's 100% Tariff Threat to BRICS Nations Over Currency

Dec 2, 2024, 12:47 PM

The Kremlin has responded to U.S. President-elect Donald Trump's recent threat to impose 100% tariffs on BRICS nations if they establish an alternative currency to the U.S. dollar. Kremlin spokesman Dmitry Peskov dismissed the threat, stating that any attempts to force the use of the dollar would ultimately backfire. Additionally, South Africa's representatives indicated that BRICS has no plans to create a new currency, further underscoring the group's stance against U.S. pressure. This exchange highlights ongoing tensions regarding the dominance of the U.S. dollar in global trade and finance.