Trump's BRICS tariff threat vows to defend US dollar hegemony, but is the greenback under threat?
Trump has threatened retaliation against governments that challenge the US dollar, vowing «100 percent tariffs» on countries that undercut the US currency.
The Republican vowed the action on states that «create a new BRICS Currency» or otherwise «replace the mighty US dollar,» according to a post on Truth Social on Monday.
BRICS refers to a grouping that includes Brazil, Russia, India, China and South Africa, and has expanded in recent years to include Iran, Egypt, Ethiopia and the United Arab Emirates.
Trump's statement, however, comes at a time when the greenback's hegemony does not appear to be facing an immediate threat, having been the world's reserve currency for decades.
— Is the dollar's influence diminishing? -
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