Saturday, May 31, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

BRICS Statment Pushes De-Dollarization, Despite Trump Warning

Simon Osuji by Simon Osuji
February 16, 2025
in Business
0
BRICS Statment Pushes De-Dollarization, Despite Trump Warning
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

As geopolitical tensions rise, both the West and the global South have shown no desire to relent in their positions. Indeed, a recent BRICS statement regarding the 2025 summit has pushed further de-dollarization despite US President Donald Trump’s most recent tariff warning.

This week, Trump once again reiterated his strong message to the economic alliance. Specifically, he noted that any effort to continue trading outside of the US dollar would result in 100% tariffs on the alliance. Despite this, the BRICS 2025 chairmanship holder, Brazil, has continued to discuss the need for economic reform on a global scale.

us dollar usd currency notes bills bricsus dollar usd currency notes bills brics
Source: Freepik.com

Also Read: BRICS: US Trade War, Tariffs Has Global Markets Preparing For The Worst

BRICS Remain Committed to De-Dollarization as Trump’s Threats Persist

The geopolitical arena is observing a standoff that could result in an eventual trade war. Throughout last year, Donald Trump has championed the importance of the US dollar’s status as the world’s currency. Specifically, he noted that if the greenback was no longer a global reserve asset, it would be akin to the nation losing a war.

That led him to combat the growing BRICS alliance. Specifically, he went after the group for discussions they’d had in creating an alternate trade currency for the collective. He warned of increased import taxes that would threaten their potential to benefit the economy from the US if they did not announce they were ceasing the project.

The group would deny the single currency plan but not its efforts to diversify trade settlement currencies. Now, the two have come to a head, as a recent BRICS statement signals further de-dollarization despite Trump’s most recent tariff threats.

Trump executiive orderTrump executiive order
Source: The New York Times

Also Read: BRICS: New Nation Rejects De-dollarization Amid Trump Tariffs

Brazil has been elected as the current alliance president in their rotating leadership model. Let one not forget it was Brazil and President De Lula who first championed the idea of ditching the US dollar two years ago. Conversley, in a statement on the 2025 BRICS summit, they included economic and financial reform, according to a Yahoo report.

Specifically, they are seeking reformation of the International Monetary Fund (IFM). More specifically, it is looking to bolster the BRICS New Development Bank (NDB). Known as the BRICS Bank, it has pioneered initiatives to further the use of local currencies in trade.

“US President Donald Trump has voiced anger at the proposal,” the report said. Moreover, it further creates the belief that those tariffs may well be implemented—a move that could have massive implications.

Source link

Related posts

5 African countries make historic $16 million pledge to African Development Fund

5 African countries make historic $16 million pledge to African Development Fund

May 31, 2025
U.S. CDC issues alert as mpox outbreak in Central, East Africa leads to new cases in the U.S.

U.S. CDC issues alert as mpox outbreak in Central, East Africa leads to new cases in the U.S.

May 31, 2025
Previous Post

401k vs 403b: What’s the Difference?

Next Post

Starbucks Reserve store at the Grand Avenue, The Avenues in Kuwait reopens

Next Post
Starbucks Reserve store at the Grand Avenue, The Avenues in Kuwait reopens

Starbucks Reserve store at the Grand Avenue, The Avenues in Kuwait reopens

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Who Owns The Highest Number of SHIB Coins?

Who Owns The Highest Number of SHIB Coins?

1 year ago
White House Mulls Allowing Ukraine to Fire US Weapons Into Russia

White House Mulls Allowing Ukraine to Fire US Weapons Into Russia

1 year ago
Pregnant mother shot and killed by her 2-year-old son

Pregnant mother shot and killed by her 2-year-old son

2 years ago
5 Things You Should Know About Kizz Daniel’s Forthcoming “Maverick” Album

5 Things You Should Know About Kizz Daniel’s Forthcoming “Maverick” Album

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.