PRESIDENT Donald Trump has reiterated his warning of imposing 100 per cent tariffs on countries within the BRICS bloc, which includes India, should they take steps to replace the US dollar.
Trump stated, “If the BRICS nations want to do that, that’s okay, but we’re going to put at least a 100 per cent tariff on the business they do with the United States.” He added that they “will face a 100 per cent tariff if they so much as even think” about reducing the dollar’s role in global trade.
In December, Trump issued a similar warning, stating, “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 per cent tariffs and should expect to say goodbye to selling into the wonderful US economy.”
External Affairs Minister S Jaishankar previously clarified that India does not support de-dollarisation and there is no proposal for a BRICS currency.
Responding to a question on immigration on Monday, Trump said he supports legal immigration, which he views as necessary due to anticipated growth in manufacturing driven by his tariff policies. “I’m fine with legal immigration. I like it. We need people, and I’m absolutely fine with it. We want to have it,” he said.
BRICS is an intergovernmental organisation comprising ten countries: Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
