On Saturday, US President-elect Donald Trump called on BRICS nations to pledge not to issue a new currency or support one that would displace the US dollar or be subject to 100% tariffs.
The notion that the BRICS nations are attempting to abandon the dollar while we look on is OVER. We demand that these nations promise not to invent a new BRICS currency or support any other currency as a substitute for the strong U.S. dollar. If they do, they will be subject to 100% tariffs and will likely have to bid farewell to selling into the fantastic U.S. economy. Go find another “sucker,” they can! The United States dollar will never be replaced by the BRICS in international trade, and any nation that attempts to do so should bid America farewell.
However, India said it is against de-dollarisation.
Speaking at the Carnegie Endowment for International Peace on de-dollarization, India’s External Affairs Minister S Jaishankar explained India’s position on the US dollar.
He underlined that India does not target the dollar with economic or strategic strategies and has no “malicious intent vis-à-vis the dollar.” But when trading partners don’t have dollars, it becomes difficult, thus India looks at other settlement options.
According to Jaishankar, US regulations can make dollar-based trade more difficult at times, requiring “workarounds” to keep businesses afloat. “We spoke about rebalancing… obviously all of this is also going to reflect on currencies and economic needs,” he said, reflecting on changes in the global economy and highlighting India’s practical approach.
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