BRICS Countries Face 100% Tariffs and Cut-off from Trading with US as Trump Pushes Back Against De-Dollarization

The BRICS coalition (Brazil, Russia, India, China, and South Africa) aims to reduce reliance on the US dollar, Euro, and Pound Sterling by conducting business using local currencies. 

This move threatens the dominance of Western currencies.

President-elect Donald Trump has responded with a stern warning:

• Trump threatens to impose 100% tariffs on BRICS countries if they create a new currency to replace the US dollar.
• Trump's goal is to maintain the dollar's dominance as the primary global reserve currency, currently holding around 60% of global foreign exchange reserves.
• BRICS nations have been exploring alternatives to the dollar, including local currencies and blockchain technologies.
• Russian President Vladimir Putin has characterized the dollar's dominance as the "weaponization" of money.

Trump's threat has sparked concerns among BRICS nations, which account for around 45% of the world's population and 35% of its economy.

Trump posted on Truth Social: 

"The idea that BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER.

We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the US Dollar, or face 100% Tariffs and lose access to the US Economy."

Political Analysis and Implications for Putin's De-Dollarization Agenda

Trump's threat may derail Putin's de-dollarization agenda, which aimed to reduce Russia's dependence on the US dollar. 

Putin's efforts may face significant setbacks due to Trump's opposition.

Moral Lessons

• Human confidence can be misplaced.
• Even effective strategies can ultimately fail.
• Human actions can backfire and have unintended consequences.

Nigerian Malicious Groups - Lessons in Futility

Attempts to destabilize Nigeria since 1966 by some malicious groups have instead strengthened the country's unity. 

Many of their evil plots against Nigeria had backfire and Counter-productive to their intents and motives. 

The amalgamation of various militant groups created by some malicious groups in SE had been collectively branded and christened: "Unknown Gunmens" that eventually toment, impose Sit-at-Home, kidnapping and even killing those they set-out to protect.

How do you track and arrest unknown gunmen? 

Limitations of Human Wisdom

Putin and Trump's friendship notwithstanding, Trump's election has become a setback for Putin's economic plans. 

This development highlights the limitations of human wisdom and the power of higher forces.

God bless Nigeria our beloved country 

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Ref:

https://www.cnn.com/2024/11/30/politics/trump-brics-currency-tariff/index.html