{"id":132322,"date":"2024-12-02T02:22:54","date_gmt":"2024-12-01T19:22:54","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=132322"},"modified":"2024-12-02T02:22:54","modified_gmt":"2024-12-01T19:22:54","slug":"trump-threat-of-100-tariffs-against-brics-nations-raises-trade-war-fears-global-economy","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=132322","title":{"rendered":"Trump threat of 100% tariffs against Brics nations raises trade war fears | Global economy"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"dcr-1eu361v\">Fears of a global trade war have risen after Donald Trump threatened to impose 100% tariffs on countries in the <a href=\"https:\/\/www.theguardian.com\/world\/2023\/aug\/21\/brics-looks-to-expand-bloc-south-africa-summit-divisions-key-members-india\" data-link-name=\"in body link\">Brics group<\/a> if they create a new currency to rival the US dollar.<\/p>\n<p class=\"dcr-1eu361v\">Writing on his social media platform, Truth Social, on Saturday, Trump declared that he would also act if they supported another currency to replace the dollar.<\/p>\n<p class=\"dcr-1eu361v\">\u201cWe require a commitment from these countries that they will neither create a new Brics currency nor back any other currency to replace the mighty US dollar or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful <a href=\"https:\/\/www.theguardian.com\/business\/useconomy\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">US economy<\/a>,\u201d Trump said.<\/p>\n<p class=\"dcr-1eu361v\">\u201cThey can go find another sucker. There is no chance that the <a href=\"https:\/\/www.theguardian.com\/business\/brics\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">Brics<\/a> will replace the US dollar in international trade, and any country that tries should wave goodbye to America,\u201d he added.<\/p>\n<p class=\"dcr-1eu361v\">The warning came less than a week after Trump declared he would impose tariffs on Canada, Mexico and China once he was inaugurated as president.<\/p>\n<figure id=\"28cdb265-a5ca-417c-abc0-9d9b4ad1e1ad\" data-spacefinder-role=\"richLink\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\" dcr-1your1i\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:5,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Trump\u2019s talk of tariffs raises fears of hit to economies worldwide&quot;,&quot;elementId&quot;:&quot;28cdb265-a5ca-417c-abc0-9d9b4ad1e1ad&quot;,&quot;role&quot;:&quot;richLink&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/business\/2024\/nov\/26\/trump-tariffs-china-mexico-canada&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:0,&quot;display&quot;:0,&quot;theme&quot;:0}}\"\/><\/figure>\n<p class=\"dcr-1eu361v\">The Brics group was originally made up of Brazil, Russia, India, China and South Africa and has been joined by Egypt, the United Arab Emirates, Ethiopia and Iran.<\/p>\n<p class=\"dcr-1eu361v\">Some Brics members have shown interest in de-dollarising the world economy. In October, Vladimir Putin called for an <a href=\"https:\/\/www.theguardian.com\/world\/2024\/oct\/23\/putin-world-economy-bloc-brics-summit\" data-link-name=\"in body link\">alternative international payments system<\/a> that could prevent the US from using the dollar as a political weapon. Others, though, fear the consequences of severing relations with the US and other western countries by breaking away from the dollar, which underpins world finance.<\/p>\n<p class=\"dcr-1eu361v\">A 100% tariff at the US border, if implemented, would drive up sharply the cost of goods from Brics members, fuelling US inflation and destabilising global trade flows.<\/p>\n<p class=\"dcr-1eu361v\">Stephen Innes, a managing partner at SPI Asset Management, said Trump had laid down the gauntlet with a \u201cblistering proposal\u201d of a 100% tariff.<\/p>\n<figure data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.NewsletterSignupBlockElement\" class=\" dcr-173mewl\"><a data-ignore=\"global-link-styling\" href=\"#EmailSignup-skip-link-10\" class=\"dcr-jzxpee\">skip past newsletter promotion<\/a><\/p>\n<aside aria-label=\"newsletter promotion\" class=\"dcr-av5vqf\">\n<div class=\"dcr-10et71f\">\n<p class=\"dcr-rsfwa\">Sign up to <span>Business Today<\/span><\/p>\n<\/div>\n<p class=\"dcr-1xjndtj\">Get set for the working day \u2013 we&#8217;ll point you to all the business news and analysis you need every morning<\/p>\n<p><gu-island name=\"SecureSignup\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;newsletterId&quot;:&quot;business-today&quot;,&quot;successDescription&quot;:&quot;Get set for the working day \u2013 we'll point you to all the business news and analysis you need every morning&quot;}\"\/><span class=\"dcr-1eusqlu\"><strong>Privacy Notice: <\/strong>Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our <a data-ignore=\"global-link-styling\" href=\"https:\/\/www.theguardian.com\/help\/privacy-policy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a>. We use Google reCaptcha to protect our website and the Google <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/privacy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a> and <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/terms\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Terms of Service<\/a> apply.<\/span><\/aside>\n<p id=\"EmailSignup-skip-link-10\" tabindex=\"0\" aria-label=\"after newsletter promotion\" role=\"note\" class=\"dcr-jzxpee\">after newsletter promotion<\/p>\n<\/figure>\n<p class=\"dcr-1eu361v\">\u201cTrump\u2019s recent electoral triumph was heavily fortified by his promise to impose harsh tariffs on foreign imports to the US, advocating for an aggressive 60% tariff on Chinese goods,\u201d he said.<\/p>\n<p class=\"dcr-1eu361v\">\u201cThis hardline approach on trade reflects Trump\u2019s broader \u2018America First\u2019 economic policy, which aims to recalibrate global trade dynamics and reinforce US economic sovereignty. As the world watches, the potential for a global trade upheaval looms, setting the stage for a contentious start to Trump\u2019s administration.\u201d<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.theguardian.com\/business\/2024\/dec\/01\/trump-threat-100-per-cent-tariffs-brics-nations-dollar\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fears of a global trade war have risen after Donald Trump threatened to impose 100% tariffs on countries in the Brics group if they create a new currency to rival &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=132322\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-132322","post","type-post","status-publish","format-standard","hentry","category-world","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/132322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=132322"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/132322\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=132322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=132322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=132322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}