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Donald Trump Threatens 100% Tariff if BRICS Ditches the US Dollar
Donald Trump Threatens 100% Tariff if BRICS Ditches the US Dollar
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President Donald Trump has threatened BRICS countries with 100% tariffs if they continue to end reliance on the dollar. Trump stressed that goods entering the US will face a 100% tariff and the bill will be footed by BRICS. This comes after he announced the establishment of the External Revenue Service (ERS) which will collect tariffs and taxes from foreign countries. BRICS now needs to rethink their de-dollarization initiatives as Trump is coming at them harder. Imposing tariffs on goods entering the US will create a financial imbalance in the imports and exports sector. Businesses could take losses and find it hard to sustain in a competitive global market.
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