BRICS: China, Russia Respond to Trump
The BRICS group “supports inclusiveness and rejects factional clashes”
US President-elect Donald Trump’s warning did not go unnoticed as he threatened to “impose 100% tariffs against BRICS group countries if they decide to create a new currency of their own.” BRICS is “an important platform for cooperation between emerging markets and developing countries.” BRICS countries “uphold openness, inclusiveness, and win-win cooperation, do not engage in factional conflicts, and do not harm third parties,” Chinese Foreign Ministry spokesman Lin Jian said, emphasizing that “China is willing to continue working with BRICS partners to deepen cooperation in various fields and make greater contributions to the stable and sustainable growth of the global economy.”
According to the Kremlin, “if the USA forces all countries to use the dollar, this decision could reinforce trends toward switching to national currencies.” Russian presidential spokesman Dmitry Peskov said at a briefing that “this is not just about the BRICS countries.” More and more countries of the world “are beginning to switch to the use of national currencies in foreign trade and economic activities. On the other hand, if the USA forces countries to use the dollar, it is likely to further strengthen the trends of switching to national currencies,” Peskov emphasized, according to whom, in a multipolar world, “the dollar is losing its attractiveness as a reserve currency.”
The comments from Beijing and Moscow followed a warning posted by Trump on his Truth social media platform.
“The idea,” the future White House occupant wrote, “that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.”