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U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar ...
President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face ...
Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a threat of 100% tariffs he had made weeks after winning the November ...
New Delhi: BRICS Games 2021 [103] 14th: 23 June 2022 (video conference) China: Xi Jinping: Beijing: A major development on the summit was the creation of a new, basket type reserve currency. The currency, which is challenging the US dollar, combines BRICS currencies and is backed by precious metals. 15th: 22–24 August 2023 South Africa: Cyril ...
Mr Trump, who has already kicked off the imposition of tariffs on Canada and Mexico, demanded a firm commitment from Brics nations to cease any attempts to create a new currency or back existing ...
"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 ...
The member states view BRICS Pay to promote trade among its members, financial inclusion, and as a direction to reduce their reliance on the US dollar. [9] Russia has been the strongest proponent of BRICS Pay, to bypass the SWIFT network and the US dollar transactions it was sanctioned from following its invasion of Ukraine.
BRICS nations, when combined, lack the political stability to make investors confident in a combined currency, he argued. “There is not an immediate threat to the dollar over the next 10 years ...