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What will be the impact of Trump's tariff threats on BRICS economies by end of 2025?
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Resolution / Starting Odds
Significant negative impact • 25%
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Positive impact • 25%
Economic reports or analyses by credible financial organizations
Story
Trump Threatens BRICS with Tariffs, Promotes Bitcoin Amid Dollar Replacement Plans
Dec 7, 2024, 06:30 PM
Former President Donald Trump has issued threats against the BRICS countries, warning of severe economic repercussions should they attempt to replace the U.S. dollar with another currency in international trade. This comes amidst discussions within BRICS nations about reducing their reliance on the dollar. Trump's stance includes the possibility of imposing massive tariffs and promoting the use of cryptocurrencies like Bitcoin, potentially undermining the gold reserves held by BRICS countries. Michael Saylor, a prominent Bitcoin advocate, has suggested that the U.S. could adopt Bitcoin and sell off its gold reserves, a move that could devalue gold and impact the economies of BRICS nations. Trump's threats are seen as an escalation of ongoing tensions regarding the global financial system's structure.
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Agree to not pursue new currency • 25%
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Brazil • 14%
Russia • 14%
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Saudi Arabia • 14%
Iran • 14%
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