US President Donald Trump has once again warned the BRICS countries. Trump said on Friday that if the BRICS countries try to remove the US dollar from international trade, they will have to face 100 percent tariff. Trump posted on his social media platform Truth Social on Thursday and wrote, BRICS countries will keep trying to move away from the dollar and we will just keep watching, this idea is now over. Trump has asked the BRICS countries for a guarantee of not making a new currency and not making any other currency an alternative to the dollar. If the BRICS countries do not do this, Trump will impose 100 tariffs on them. Also, they will not be able to trade with America. He told the BRICS countries to find some other stupid country. No consensus among BRICS countries on making currency There has been no consensus among the member countries of BRICS on making a currency. No official statement has been issued regarding this so far. Before the summit of BRICS countries held in Russia in October last year, there was a lot of discussion about its currency. However, even before the summit, Russian President Putin had made it clear that the BRICS organization is not considering creating its own currency. However, there was a discussion in the summit about the BRICS countries’ own payment system. There was a discussion about preparing this payment system on the lines of the global SWIFT payment system. India had offered to give its UPI to the BRICS countries for the payment system. India not in support of BRICS currency In December last year, Indian Foreign Minister S Jaishankar had said in a statement that India is not in favor of de-dollarization i.e. reducing dependence on the US dollar in trade and there is no proposal for BRICS currency. BRICS is a group of countries with major economies of the world, in which America is not included. For the last few years, Russia and China have been trying to create BRICS currency as an alternative to the US dollar, on which consensus is not being reached. America earns billions on the strength of the dollar. The SWIFT network was started in 1973 with 518 banks of 22 countries. Currently, it includes 11,000 banks from more than 200 countries. They keep their foreign exchange reserves in American banks. Now not all the money is invested in trade, so countries invest their extra money in American bonds, so that they can get some interest. This money is about 7.8 trillion dollars for all the countries combined. That is, twice more than India’s economy. America uses this money for its growth. ————————- Also read this news related to BRICS…. Nigeria gets the status of BRICS partner country: Brazil announced; So far 9 countries have become official BRICS partners. Nigeria, a country in the African continent, formally became a partner member of BRICS on January 17. According to Russian news agency RT, Brazil’s Foreign Ministry announced that Nigeria has become the 9th official BRICS partner along with Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda and Uzbekistan. Read the full news here…
