Summary
Trump has threatened 100% tariffs on BRICS nations (Brazil, Russia, India, China, South Africa, and others) if they pursue de-dollarization efforts, including creating a new currency to challenge the U.S. dollar’s dominance in global trade.
Trump warned these nations could lose access to the U.S. economy.
BRICS members, frustrated by U.S. financial dominance, have explored alternatives, with Russia advocating for a new payment system to bypass sanctions.
Analysts say the dollar’s global reserve status remains secure in the near term despite these challenges.
What has always made the dollar so attractive is the perception of US stability and predictability; the idea that the USA really did want to facilitate truly global trade.
Trump weaponizing tariffs and otherwise acting like a lunatic (and that the electorate put him in twice) is really shattering to the fundamental rationale for using the USD as the defacto global currency.
Working as intended.
All while providing an “obvious” foil for the educationally challenged to pretend that he’s trying his best in good faith, when the destruction of US hegemony is entirely his handler’s goal.
Yep, this will go down in the history books as an incredible feat of non-confrontative “silent” warfare by Putin against the entire West. If there are still history books in the future.
It’s like he just learned the word ‘tariff’ and needs to include it in every conversation now to show it off.
It’s magic, it can automagically solve any unrelated problem. He claimed that tariffs would lower child care costs (of course the ramble doesn’t specify how it would lead to lower child care costs because I definitely can’t see it leading to countrywide tuition-free public kindergartens like in many European countries)
The only reason BRICS has legs is because of the last Trump presidency. His transactional approach to relations makes working with the US less appealing.
Translation: “If you guys try to move away from the US Dollar, I’m going to tax the shit out of Americans. That’ll show you.”
Mickey Mousenomics courtesy of a “very stable genius”.
Donny’s last trade war lost U.S. steel. What well his tariffs loss look like for Americans?
