BUENOS AIRES, December 3. /TASS/. The threats of US President-elect Donald Trump to introduce 100% trade tariffs on goods from BRICS countries in case they refuse to use the dollar will only strengthen the desire of the community members to get rid of the use of the American currency in mutual trade, according to columnist for the Brazilian magazine O Cafezinho Miguel do Rosario.
"Trump says that countries that dare to develop trade strategies independent of the dollar will no longer be able to sell goods to Americans. But by saying this, he is damaging the dollar itself. If the [BRICS] members can no longer supply the United States because their president is angry, then they will have to sell [products] to other countries. At the same time, the likelihood of [trade] agreements being made in local currencies increases," he said.
According to the expert, Trump's threats against the BRICS only strengthen the group's determination to develop alternative trade mechanisms that are "less vulnerable to the whims" of the United States. "The tariff hysteria of the US political leadership is so obvious and self-defeating that it becomes pitiful," he said, adding that Trump's rhetoric has become desperate.
Earlier, Trump said that he would impose 100% trade tariffs on goods from the BRICS countries if they create a new currency or abandon the dollar.
Russian President Vladimir Putin, speaking at the Valdai plenary session on November 7, noted that it is too early to talk about a single BRICS currency, as the countries of the association do not yet have such a goal. According to the Russian leader, in order to talk about a common currency, "greater economic integration" is needed, as well as "raising the quality of economies to a certain level, so that they are very similar, compatible in quality and structure with each other". Speaking at the BRICS summit in Kazan in October, the Russian president also called the use of the dollar as a weapon for political purposes a big mistake.