Donald Trump, the President of the United States, claimed in a meeting with Republican governors that his threat of imposing a 150% tariff has caused the failure of the BRICS countries’ plan to move away from the American dollar. Trump warned BRICS nations that any attempt to weaken the dollar with a 150% tariff and halt trade will be met with resistance. He alleged that BRICS members were looking to create a new currency, but since his threat, there has been no news of BRICS. Meanwhile, BRICS countries continue to explore mechanisms for trading with local currencies. Vladimir Putin, the President of Russia, emphasized increasing settlements in national currencies but stated that BRICS does not have an immediate plan to abandon the dollar. Despite this, some BRICS members, including Iran, still advocate for the idea of a unified currency.
