Posted on 11/30/2024 11:02:21 AM PST by marcusmaximus
President-elect Trump on Saturday threatened to impose 100% tariffs against emerging markets that try to shift away from the U.S. dollar in international trade.
Why it matters: The threat against the BRICS nations (primarily Brazil, Russia, India, China, and South Africa) is the latest escalation in Trump's campaign to use the specter of tariffs to achieve policy goals. Catch up quick: Trump, in a Truth Social post Saturday, demanded the BRICS countries fully support the dollar and not create their own competing currency.
If not, he said, "they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy."
(Excerpt) Read more at axios.com ...
“The idea that the Brics Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote in a post to his Truth Social platform on Saturday afternoon.
“And they know he’s not bluffing.”
Trump doesn’t bluff. But give the US dependence on outsourced everything, particularly piece-parts of just about every device made, Trump’s biggest problem is just how much his supporters (along with America-haters) will be able to take.
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