🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦❌🇺🇸BRICS vows ’won’t stop’ de-Dollarization efforts despite Donald Trump’s 100 % tariff warning

➡️Brazil's President Lula da Silva affirmed that BRICS (Brazil, Russia, India, China, and South Africa) is determined to end U.S. dollar dominance, regardless of former President Trump's warning of 100% tariffs on exports if they attempt to replace the dollar.

➡️Lula stated that the group's commitment to alternative payment platforms will not be swayed by threats. He noted that Brazil’s presidency will enhance the bloc's push for a multipolar world. This effort comes in response to Western sanctions on Russia and aims to reduce reliance on the dollar, a discussion that has gained urgency as BRICS expands its membership.

"We are going to require a commitment from these seemingly hostile 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," Trump said on Truth Social in a statement on January 31, nearly identical to one the US President had posted on November 30.

➡️At the time, Russia had said that any US attempt to compel countries to use the dollar would backfire.

➡️BRICS Attempt at De-Dollarisation
The BRICS group - Brazil, Russia, India, China, and South Africa - has been discussing ways to reduce reliance on the US dollar for years. The BRICS economic collaboration has only intensified since Western sanctions were imposed on Russia following its invasion of Ukraine. In recent years, BRICS has expanded to include Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.

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