&imwidth=800&imheight=600&format=webp&quality=medium "‘Dollar is king’: Trump says BRICS was set up to hurt us, all nations in bloc will face 10% tariff")
President Donald Trump on Tuesday said BRICS was set up to hurt the United States and to “degenerate” the dollar, which he called “king”, adding that all countries in the bloc, including India, would face a 10 per cent tariff. When asked about India’s position, considering its status as a significant US trade partner and BRICS member, Trump clarified that no exceptions would be made. Trump explicitly stated that India’s membership in BRICS means it would be subject to the same additional 10% tariffs planned for the entire bloc.
“They (India) have to pay 10 per cent if they are in BRICS, because BRICS was set up to hurt us, to degenerate our dollar, to take it off as a standard. That is okay if they want to play their game, I can play their game too. So anybody that is in BRICS is getting a 10 per cent charge. If they (India), they’re gonna have to pay a 10 per cent tariff,” Trump told reporters.
‘Countries seeking to challenge the dollar are gonna have to pay a big price’
He added that countries seeking to challenge the dollar “are gonna have to pay a big price,” and said, “I don’t think any of them is willing to pay that price.”
Trump said he believed BRICS had “largely broke up,” adding, “I thought BRICS was, and I said it a year ago, that it largely broke up, but there are a couple of them hanging around.”
“BRICS is not, in my opinion, a serious threat, but what they try to do is to destroy the dollar so that another country can take over and be the standard, and we are not gonna lose the standard,” he added.
‘Country needs a smart leader to protect the dollar’s global standing’
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Taking a swipe at former president Joe Biden, Trump said the country needs a smart leader to protect the dollar’s global standing, warning that under “a stupid president like the last one,” the US could lose its position as the issuer of the world’s standard currency, a loss he compared to “losing a war, a major world war.”
“If you have a smart president, you will never lose the standard. If you have a stupid president like the last one, you would lose the standard. You wouldn’t have the dollars here. And if we lost the world standard dollar, that would be like losing a war, a major world war. We would not be the same country any longer. The dollar is king. We are gonna keep it that way,” Trump added.
