NEW DELHI, December 9. /TASS/. US President-elect Donald Trump's threat to impose 100% tariffs on goods from BRICS countries if they choose to abandon the dollar was not taken seriously and will have no effect, Ash Narain Roy, Director of the Institute of Social Sciences in New Delhi, said in a conversation with TASS.
According to him, Trump is carried away by his victory in the elections and is now inclined to say whatever comes to mind.
"He has views on everything and exchange views and all that. So not taking it seriously at all," the expert said calling the US President-elect's rhetoric empty. "This will not affect any country," he added.
As the expert says, India will not be scared by these words, and they will not affect the developing trade in national currencies, including with the Russian Federation. "The rupee-rubles trade has been happening for long time, and it is not for everything. It is for certain kind of commodities," he said stressed that the dollar is not currently under threat.
"India is trading in local currencies with some of its trading partners. That does not imply that India is against dollar or is for de dollarization. This does not imply that India wants dedollarization," Ruchita Beri, a senior research fellow at the Vivekananda International Foundation, added in an interview with TASS.
In her opinion, "it remains to be seen" whether Trump's statements have a legal basis.
"At the moment, I am not sure at the moment of the legality of this," she said.
Earlier, Trump warned that he would impose 100% trade tariffs on goods from BRICS countries if they adopt a new currency or abandon the dollar. According to him, any nation attempting to replace the dollar for international trade will "say goodbye to America."
Speaking at the plenary session of Valdai on November 7, Russian President Vladimir Putin stated that it is premature to discuss a single BRICS currency, as the countries in the group have not yet set such a goal. According to the Russian leader, in order to consider a common currency, the BRICS countries need to "achieve greater economic integration" and improve "the quality of their economies to a level where they are compatible in structure, and in the overall quality of their economies." Speaking at the BRICS summit in Kazan in October, the Russian President also called the use of the dollar for political purposes as a weapon a big mistake.
The BRICS group was formed in 2006 by Brazil, Russia, India and China. South Africa joined in 2011. Egypt, Iran, the UAE, Saudi Arabia and Ethiopia became members of the group on January 1, 2024.