WORLD
BRICS, formed in 2009, is the only major international group of which the United States is not a part
President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar and has sought a commitment from the nine-member group that includes India, Russia, China, and Brazil. BRICS, formed in 2009, is the only major international group of which the United States is not a part. Its other members are South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. Over the past few years a few of its member countries, in particular Russia and China, are seeking an alternative to the US Dollar or create own BRICS currency. India has so far not been part of the move.
On Saturday, Trump warned BRICS nations against such a move.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” the president-elect said in a post on Truth Social, a platform owned by him.
“We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100% Tariffs and should expect to say goodbye to selling into the wonderful U.S. Economy,” Trump warned.
“They can go find another 'sucker!' There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America,” he said. At the 2023 summit in South Africa, BRICS countries committed to study the feasibility of a new common currency. A proposal in this regard was made by the Brazilian President Luiz Inacio Lula de Silva.
India, an important pillar of BRICS, has said it is against de-dollarisation.
"…ask you about de-Dollarization as a possibility for the world. At times India has expressed interest in alternative currency. It can serve as a reserve mechanism. I wonder how do you see that right now what you see as the role of the dollar and these discussions about your national policy? India’s External Affairs Minister S Jaishankar said during his appearance at the Carnegie Endowment for International Peace this fall.
“I think you have us confused for someone else because we have never actively targeted the dollar. That's not part of either our economic policy or our political or our strategic policy. Some others may have,” Jaishankar said.
“What I will tell you is a natural concern there. We often have trade partners who do not have dollars to take. So, we now have to look at whether we forgo dealings with them or do we find some settlement which works otherwise. So, there's no, I can say malicious intent vis-a-vis the dollar in business. WE are trying to do our business,” he said.
“Sometimes you make it difficult in the use of dollars. We have some trade partners with whom trade in dollars becomes difficult because of your policies. We have to obviously look for workarounds. But for us, as we spoke about rebalancing, we spoke about multiple obviously all of this is also going to reflect on currencies and economic needs,” said the External Affairs Minister on October 1 this year.
(Except for the headline, this story has not been edited by DNA staff and is published from PTI)
Harshvardhan Rane, Mawra Hocane react to Amitabh Bachchan's shout out to Sanam Teri Kasam re-release
Chhaava box office collection day 2: Vicky Kaushal, Akshaye Khanna film mints Rs 67 crore
15 injured in stampede at New Delhi Railway Station, probe on
Amitabh Bachchan was 'mind-blown' in a Bangkok strip club, reveals...: 'He was wearing...'
Watch: Gautam Adani and his wife offered 'chadar' at Ajmer Sharif Dargah
European man shares 10 lessons that shattered his western mindset after moving to India
'India needs strong production base, not empty words': LoP Rahul Gandhi's veiled dig at centre
Ranveer Allahbadia says he’s getting death threats from..., promises he won’t...
Bad news for Rohit Sharma ahead of Champions Trophy 2025, BCCI to take huge step on India captain
Mukesh Ambani's Reliance Industries buys new company for Rs 6.73 crore, it is called...
Who was Lavoo Mamledar, former MLA who died after altercation with...in...
World's largest gold deposit worth over Rs 7 lakh crore found in China, hidden beneath....
Video Viral: Monalisa Bhosle, Mahakumbh sensation, takes first-ever flight to Kozhikode
Who Owns Burj Khalifa? Know the SURPRISING owner of the world's tallest building
Legendary Bengali singer-songwriter Pratul Mukhopadhyay passes away at 82
Whale swallows, then spits out kayaker as moment is captured on camera; WATCH viral video
'I do not regret being part of it': Raghu Ram opens up on India's Got Latent controversy
Meet influencer Ashley Clair who claims Tesla CEO Elon Musk is the father of her child
After Virat Kohli, Yuvraj Singh cuts ties with Ranveer Allahabadia – Here's what happened!
NASA’s curiosity Rover captures stunning twilight clouds on Mars, leaves internet in awe
Who is Ashley St. Clair? Author claiming she secretly gave birth to Elon Musk's child
Google secures Mumbai's BKC offices, renews lease with staggering monthly rent of over Rs.....
Meet man, who sold previous company for Rs 1 lakh crore, he is...
American whiskey Bourbon set to take over Indian market, here's how
Ten devotees from Chhattisgarh killed as car collides with bus enroute to Maha Kumbh
What happens after UPSC? Civil servants share about life at LBSNAA
Mukesh Ambani, sons Akash and Anant take holy dip at Mahakumbh, woman shares video; watch here
'What Akshay Kumar does is..': Ahmed Khan reveals superstar uses teleprompter for…, defends his…
Maha Kumbh fame IIT Baba aka Abhay Singh's 10th, 12th marksheet goes viral
Ameesha Patel shares 'fraudulent promise' video of Gadar 2 because Anil Sharma...: 'How will you...'
After Cristiano Ronaldo, Lionel Messi’s teammate Federico Redondo takes dig at PSG, claims...
Who is Abhinav Chandrachud? Lawyer representing YouTuber Ranveer Allahbadia, he is son of famous...
India's Got Latent controversy: YouTuber Apoorva Makhija kicked out from IIFA? Here's what we know
Former WWE wrestler gives BIG warning to Ranveer Allahbadia, says, 'people like him have...'
Ukraine's Zelenskyy makes BIG claim, says Donald Trump can push Putin to...
Anti-Valentine’s week: From Breakup Day to Slap Day, 7 days explained
Saturday bank holiday: Are banks open or closed on February 15? Check here
Meet Fearless Nadiya, first female Bollywood action star, she was from...
Prateik Babbar shares passionate kiss with Priya Banerjee in dreamy wedding photos
Vicky Kaushal, Rashmika Mandanna, Akshaye Khanna’s Chhaava is a historic epic that roars to glory
'India, US stand firmly together in fight against terrorism': PM Modi
Ranveer Allahbadia hires Ex-Chief Justice of India's son as his lawyer, approaches Supreme Court
CanCentra Review 2025: Scam Or Legit Trading Platform? - Canada Facts!
PAFI Kabupaten Gunungkidul Launches Pharmacist Training Program to Elevate Healthcare Standards
Oswal Energies introduces Advanced Clean Energy Solutions at India Energy Week 2025