Trump threatens 100% tariffs on China and Russia if BRICS group issues new currency

NY Post: US President-elect Donald Trump has threatened to levy 100% tariffs on BRICS — a China- and Russia-led group of nations with emerging economies — if the countries decide to issue their own currency.

Trump said Saturday that his incoming administration will not allow the nine-nation group, which has 34 other countries interested in joining, to undermine the US dollar.

“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on Truth Social — referring to the group whose acronym stands for founding members Brazil, Russia, India, China and South Africa. Read More…

Opinion: Since the November 5 election , President-elect Donald Trump has threatened sanctions against Russia, while China, Mexico and Canada are also being threatened for not stopping the flow of illegal immigrants to the US.

As recently as December 1, Trump threatened blanket (100%) sanctions against Russia and China for threating to challenge the US dollar’s world reserve currency status with a new BRICS currency.

So far BRICS has admitted to working out trade settlements away from the US dollar and of creating an investment bank that will make loans to developing countries. The talk of a new BRICS currency is being played down.

Mexico and Canada both rolled over on the immigration issue which I applaud, but what would be the effects of 100% sanctions on the leaders of a bloc of nations that collectively comprise 45% of the world’s population… 28% of global economic output… and 29% of global oil production.

If President-elect Trump is not employing an “Art of the Deal” tactic, this could get out of hand. Sanctions can have a negative effect on the rest of the world as nations wonder if they will be next if they do not kiss the ring.

Arnaud Bertrand, one of the world’s richest men recently said this:

“The ‘mighty U.S. dollar’ is apparently so ‘mighty’ that you need to threaten countries so they don’t abandon it”

“BRICS countries should totally take him to his word and go ahead with this: 100% tariffs on BRICS products would actually further undermine the dollar. It’d reduce demand for it due to reduced trade, and it’d cause significant inflation in the U.S., also negative for the dollar.

“This is akin to saying ‘if you try to undermine the dollar, I’ll do it as well.’”

When nations get sanctioned, dollar assets held in other countries can be frozen thereby causing major economic disruptions giving those nations all the incentive they need to join a BRICS type group.

“If Trump’s first term proved anything,” writes the foreign policy analyst Daniel Larison, “it is that other states cannot be so easily intimidated through economic warfare.

“Pressure usually provokes defiance and resistance. When the targeted country is one that has a history of being bullied or attacked by the U.S., it is even more likely that a pressure campaign will blow up in Washington’s face.

“In the case of Iran, ‘maximum pressure’ caused an expansion of Iran’s nuclear program, increased tensions, greater regional instability and attacks on U.S. troops in the region. It very nearly resulted in a war.

“The U.S. has continued waging the same economic war under Biden, and Iran’s nuclear program is now more advanced than it has ever been. By any measure, ‘maximum pressure’ has made everything worse.”

World Reserve Currency:

In the 1800s the Dutch guilder was the world reserve currency. In the 1900s the French franc was reserve currency and in the late 19th to the mid 20^th century it was the British pound. The US dollar has been the world reserve currency since 1944, and it’s enemies, both internal and abroad have never been more dangerous.

And as Bible prophecy students we know that it is God who appoints leaders…

“And He changes the times and the seasons;
He removes kings and raises up kings;
He gives wisdom to the wise
And knowledge to those who have understanding.” Daniel 2:21

…sometimes for blessing and other times for judgment.