Former President Donald Trump revealed that he is aware of the BRICS ideology and has plans to crush the alliance and boost the US dollar. BRICS is threatening to uproot the US dollar from the world’s reserve currency status and replace it with local currencies. The alliance is forging new trade deals with developing countries to settle cross-border transactions without the US dollar. China, Russia, and India have already signed partnerships with other nations to use local currencies for payments.
Also Read: BRICS Conducts $260 Billion Worth Trade Without the US Dollar
Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Economic advisors to Trump have chalked out plans to tame BRICS and put the US dollar ahead of other currencies. Trump made it clear that he wants the US dollar to remain the global de facto currency. He explained that he would stop developing nations from taking over the world’s reserve currency status.
Also Read: BRICS: Russia Gains $14 Billion Oil Revenue Despite US Sanctions
Donald Trump Plans To Crush BRICS & Boost the US Dollar
Trump blamed Joe Biden for the weakening of the US dollar citing the President doing nothing to control the USD’s dip. The economic advisors to Trump have discussed targeting BRICS in his potential second term. “I hate when countries go off the dollar,” Trump said in an interview with CNBC and Bloomberg.
Also Read: BRICS: Another Country to Ditch US Dollar & Pay Local Currency
“I would not allow countries to go off the dollar because when we lose that standard, that will be like losing a revolutionary war. That will be a hit to our country. With Biden, you’re going to lose the dollar as the standard. That’ll be like losing the biggest war we’ve ever lost,” he said. The former President is keen on bringing the US dollar on track by keeping BRICS at bay. However, we will have to wait and watch whether Trump will be elected in November 2024.
