Donald Trump bullies BRICS, which is unlikely to name his bluff

Leaders of BRICS (Brazil, Russia, India, China, South Africa) are but to touch upon the menace issued by US President-elect Donald Trump on Saturday. The respective international ministries have ignored it and apparently don’t suppose the menace is critical, or prone to be carried out.

One more reason they haven’t responded is as a result of it is going to be a number of years, if not many years, earlier than an alternate forex association to the US greenback could be put in place. Whereas economists and commentators in BRICS nations are amused by the menace, the President-elect’s bullying tone has irked others.

In his warning to BRICS, Trump threatened to impose 100 per cent tariffs on any nation that challenged the US greenback’s dominance within the international financial system. BRICS nations have been discussing methods of shifting away from the US greenback whereas buying and selling with one another.

“The concept the BRICS Nations try to maneuver away from the Greenback whereas we stand by and watch is over,” Trump posted on social media platform Reality Social, and particularly threatened to impose “100 per cent tariffs” on international locations exploring different forex preparations, warning they might face restricted entry to the US market.