Trump is putting BRICS nations on notice, threatening them with a full-blown trade war if they attempt to sideline the U.S. dollar in global commerce.

cross-posted from: https://lemmy.world/post/24960701

In a fiery Truth Social post on Thursday night, the president declared that any country backing an alternative currency would be hit with 100 percent tariffs and effectively cut off from American markets. Trump made it clear there would be no room for negotiation, dismissing any possibility of an international shift away from the dollar.

  • frezikEnglish
    21·
    4 hours ago

    It’d be a good idea for everyone. The plans being floated around the BRICS would just replace US puppet strings for Chinese puppet strings.

    How to get a currency that doesn’t have any one country holding the puppet strings? I dunno. It’s tempting to say crypto, but…yeah.

    • Eldritch@lemmy.worldEnglish
      2·
      3 hours ago

      Honest question. What about the euro? I don’t know enough about it ATM to really evaluate it. But it definitely seems a darn sight better than our currency.

      • qyron@sopuli.xyzEnglish
        1·
        3 hours ago

        Euro is weird. The central bank is independent on paper but you have political figures trying their best to get in there. The current president is that bitch from the IMF. With so many countries throwing their chips to influence the central bank, things tend to level out but the Euro Zone is known to be slow to react to fluctuations and even worst on how to plan ahead. Just look at how they managed the 2008 market crash aftermath and the Covid debacle; most experts defend they should have had the opposite reactions they did, as in, they should had had lowered the interest rates and facilitate liquidity then and control money flow during Covid.

        The Euro was once floated as an alternative to dollar for oil trading but it caused a shit storm.

        • Eldritch@lemmy.worldEnglish
          1·
          2 hours ago

          Yeah IMF association is definitely not a positive in my book for sure. I figured there had to be some catches or else it probably would have been adopted. On paper at least it seems the thing. But reality is always where you get screwed.