President-elect Donald Trump Threatens Tariffs on BRICS If They Undermine Dollar
At the 2023 brics summit, Brazil, Russia, India, China and South Africa discussed the possibility of a shared currency the group could use to bypass dollar-dominated financial systems. United States President-elect Donald Trump will not let this threat go unchallenged.
On November 30, he threatened 100 percent tariffs against the brics alliance if it acted to undermine the U.S. dollar. Since Iran, Egypt, Ethiopia and the United Arab Emirates joined the alliance in 2024, these potential tariffs could affect nine nations.
De-dollarization: The U.S. dollar represents 58 percent of the world’s foreign exchange reserves, but this percentage could plummet if an alliance like brics started trading with alternate currencies.
Since the dollar is no longer backed by gold, such a development could hurt the dollar’s value. High demand for dollars keeps the interest rate on America’s debt low, so a new reserve currency could cause interest rates on U.S. Treasury bonds to spike. This would force America to print money to pay its debts.
President-elect Trump’s tariff threat is designed to discourage brics nations from proceeding with this plan.
Trade war: India and South Africa responded to the threat by categorically ruling out participation in any process to create a new reserve currency. So Trump’s plan seems to be working for the time being. But this is not a long-term solution to America’s trade problems.
The Bible warns that unless the American people repent of their sins, foreign enemies “shall besiege thee in all thy gates, until thy high and fenced walls come down, wherein thou trustedst, throughout all thy land: and he shall besiege thee in all thy gates throughout all thy land, which the Lord thy God hath given thee” (Deuteronomy 28:52).
Should Americans refuse to heed this warning and repent, the brics nations could play a major role in this prophesied besiegement.
Learn more: Read Chapter 5 of Ezekiel—The End-Time Prophet to understand more about trade wars.
