Trump threatened 100% tariffs on five countries, including India, if they… – Firstpost

Donald Trump has threatened to impose 100% tariffs on a number of countries.

The President-elect has threatened this action against the BRICS group of countries, which includes India, if they weaken the US dollar.

In a post on his social media platform Truth Social on Saturday (November 30), he wrote: “The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is CORRECT.”

Trump then added: “We demand a commitment from these countries that they will not create a new BRICS currency or support any other currency to replace the mighty US dollar, or they will face 100% tariffs and should expect to say goodbye with sale.” to the great US economy.”

The BRICS group includes Brazil, Russia, India, China, South Africa and others.

The announcement came after the BRICS summit held last month in Kazan, Russia, where the countries discussed increasing non-dollar transactions and strengthening local currencies.

Russia invited the BRICS countries to create their own international payment system: Brics Pay.

BRICS Pay will be carried out through the European Society for Worldwide Interbank Financial Telecommunications (SWIFT) network and Indian UPI.

This will allow BRICS members to make and receive payments in their national currencies, including the Russian ruble, Chinese yuan, Indian rupee, Brazilian real and South African rand.

This will allow users to easily convert these currencies, making cross-border payments more efficient.

Despite these ambitious plans, member countries show varying levels of enthusiasm and commitment. China has expressed support for Brics Pay, while other countries such as India and Iran have shown limited interest in the proposal.

The BRICS grouping has expanded significantly since its creation in 2009 and now includes countries such as Iran, Egypt and the United Arab Emirates.

With the participation of agencies