US President Donald Trump threatens tariffs on BRICS, tries to salvage dollar dominance
लगानी न्यूज
agency. Us President Donald Trump has once again threatened to impose tariffs on BRICS countries. He said the BRICS grouping was heading towards an early end.
Trump said while briefing the White House about a bill on Friday. He said he had shown toughness as BRICS nations were trying to capture the dominance of the US dollar. However, Trump did not name any nation.
Trump’s threat comes at TAG_OPEN_div_62 a time when the three key BRICS members — India, Russia and China — are taking steps to improve trilateral ties. Earlier, Trump had threatened to impose tariffs even after the BRICS summit.
Initiative of trilateral relations between China, Russia and India
Russia has been taking initiatives to improve relations between India and China and China has also responded positively to it. TAG_OPEN_div_59 Chinese Foreign Ministry spokesman Lin Jian said, “The trilateral cooperation between China, Russia and India contributes not only to the interests of these three countries, but also to peace, security, stability and progress in the region as a whole and in the world.” ”
“China TAG_OPEN_div_57 is ready to maintain dialogue with Russia and India to advance trilateral cooperation,” Lin added. Earlier, Russian Deputy Foreign Minister Andrei Rudenko had also said that efforts were being made to reactivate the Russia-India-China format.
Trump’s allegation: BRICS tried to seize the dollar
Trump was speaking about a new bill in the White House on Friday. He praised the bill for strengthening the dollar. In the meantime, he raised the issue of BRICS. “There’s a small group called BRICS, which is coming to an end soon, it tried to capture the dominance and recognition of the dollar, the dollar, that’s what BRICS still wants,” Trump said.
TAG_OPEN_div_52 “No matter which countries in the BRICS group are, we will impose a 10 per cent tariff on them,” Trump said. Trump then reiterated his commitment to strengthening the dollar and maintaining its status as a global currency. “We will not let the dollar fall, if we lose the status of the dollar as a global currency, it will be like losing a world war,” he said.
Threats were also made after the BRICS conference
TAG_OPEN_div_49 The 17th BRICS Summit was held in Rio de Janeiro, Brazil on July 6 and 7. In the following days, Trump again threatened to impose 10 percent additional tariffs. On July 7, Trump wrote in his social media post, “Countries that associate themselves with brics’ anti-Us policies will be subjected to an additional 10 percent tariff, there will be no exemption from this policy.” Trump reiterated the same threat in his speech at the White House on Thursday.
BRICS Declaration and The United States
Brics Rio Declaration raised issues such as ‘reforming the global governance system’, ‘international stability’, opposing unilateral tariffs and non-tariff measures. However, the declaration did not explicitly mention the name of america. “Brics countries express deep concern over the increasing use of unilateral tariff and non-tariff measures, such measures are violating trade rules and violating WTO norms,” the declaration said. ”
India-US relations in China’s eyes
TAG_OPEN_div_43 Both India and China are Russia’s largest oil customers. These countries are the target of Trump’s possible 100 percent tariffs, which the US wants to pressure Russia to agree to the Ukrainian war. Chinese analysts comment on the souring of India-US relations during Trump’s second term.
In TAG_OPEN_div_41 an article published in chinese news portal Guancha on July 113, Zhi Chao of Fudan University said, “The US has adopted a strategy of using Pakistan to control India and has tried to force reconciliation between the two nations.” China’s senior analyst Professor Jin Canrong also commented similarly, saying, “Relations between the UNITED States and Pakistan have improved in recent times with the decline in India-US relations.” ”
According to him, Indian Prime Minister Modi failed to meet Trump at the G7 Summit in Canada in June. TAG_OPEN_div_39 Trump then welcomed Pakistan Army Chief General Asim Munir to the White House, which disappointed India.
BRICS nations looking for an alternative to dollar?
TAG_OPEN_div_36 Since relations between China and Russia are currently strained, both countries have put forward the vision of a multipolar world, challenging the us-dominated world order. In 2023, Chinese President Xi Jinping announced plans to trade with Countries in Asia, Africa and South America in yuan instead of dollars. China and Russia are already trading in yuan. This situation has arisen due to sanctions imposed on Russia by the US and Western countries.
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