Trump: If BRICS really "establishes in a meaningful way" it will soon collapse
US President Trump once again threatened to impose 10% tariffs on imported products from BRICS member countries on Friday (July 19), and said that if the BRICS organization were to be established in a meaningful way, it would soon collapse.
According to Reuters, Trump said, "When I heard about this organization called BRICS (basically six countries), I put great pressure on them. If one day this alliance is serious, I will quickly make them collapse. I will not tolerate anyone playing tricks on us." He did not name the specific countries.
Trump also stated that he is committed to maintaining the US dollar as the global reserve currency, and pledged never to allow the creation of central bank digital currency in the United States.
According to Reuters, Trump announced new tariffs on July 6, stating that the tariffs would apply to any country that aligns with his so-called "anti-US policies" of the BRICS group. During the BRICS summit held in Brazil in early July, the group made very subtle criticisms of Trump's trade war, even without directly naming any country. However, this was not enough to prevent them from facing the anger of the US president, who threatened to impose additional tariffs on them.
Reuters reported that as forums such as G7 and G20, composed of major economies, are in trouble due to divisions and the US president's destructive "America First" policy, the BRICS group is positioning itself as a safe haven for multilateral diplomacy. Reuters said that since the time of this threat, Trump has repeatedly claimed that the establishment of the group aims to harm the US and the US dollar as the world's reserve currency. But he has not provided evidence. The leaders of the BRICS have refuted the claim that the group is "anti-US."
Brazil canceled its plan to promote a common currency during its chairmanship this year, but the group is advancing a cross-border payment system called "BRICS Pay," to facilitate trade and financial transactions in local currencies.
The BRICS group expanded last year, expanding its membership from Brazil, Russia, India, China, and South Africa to include Iran and Indonesia. At the BRICS summit held in Brazil, leaders of the countries made indirect criticisms of the US military and trade policies.
Trump specifically targeted Brazil, announcing that starting in August, he would impose 50% tariffs on imported products from Brazil and launch a separate investigation into what Washington calls Brazil's "unfair" trade practices.
Original: https://www.toutiao.com/article/1838071923236871/
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