**Trump Warns BRICS Countries Against Using Alternative Currency**
US President Donald Trump has threatened to impose 100% tariffs on countries in the BRICS group if they try to replace the US dollar with a new currency. The BRICS countries include Russia, China, India, Brazil, and other nations.
In a post on his social media platform Truth Social, Trump said that if the BRICS countries try to create a new currency or use an existing one to replace the US dollar, they will face severe trade penalties. He repeated his warning from last year, saying there is no chance that BRICS will replace the US dollar in international trade.
**BRICS Exploring Alternative Currency Options**
The BRICS group has been exploring ways to reduce its reliance on the US dollar. A report by Russian and Chinese officials proposed a “multicurrency system” to shield member countries from external pressures like sanctions. The plan includes creating centers for mutual trade in commodities such as oil, natural gas, grain, and gold.
However, BRICS members are not unified on this issue. China supports strengthening alternative currencies, but India is cautious about adopting a common one. Russia has also been seeking to reduce its reliance on the US dollar after facing heavy sanctions following the invasion of Ukraine.
**Russia Denies Plans for Alternative Currency**
Russian President Vladimir Putin said in October that there are no plans to create a BRICS currency, emphasizing the need for caution. Kremlin spokesperson Dmitry Peskov also denied any discussions about creating a common currency, saying that BRICS is discussing new investment platforms instead.
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