{"id":4059,"date":"2025-03-05T11:45:11","date_gmt":"2025-03-05T10:45:11","guid":{"rendered":"https:\/\/www.mondevudailleurs.ae\/trumps-response-to-the-brics-challenge-duties-vs-a-new-currency\/"},"modified":"2025-03-12T12:28:28","modified_gmt":"2025-03-12T11:28:28","slug":"trumps-response-to-the-brics-challenge-duties-vs-a-new-currency","status":"publish","type":"post","link":"https:\/\/www.mondevudailleurs.ae\/en\/trumps-response-to-the-brics-challenge-duties-vs-a-new-currency\/","title":{"rendered":"Trump&#8217;s response to the BRICS challenge: Duties vs. a new currency"},"content":{"rendered":"\n<p style=\"line-height:1\">The BRICS initiative of developing a parallel currency has caused concerns in\u2002the international economy in the last few months, leading to US president Donald Trump taking action.<\/p>\n\n<p style=\"line-height:1\">In recent years, the BRICS countries \u2014 Brazil, Russia, India, China and South Africa \u2014 have been strengthening the dialogue of reducing their\u2002reliance on the US dollar. The concept of a joint\u2002currency emerged after 2008-2009 financial crisis and was given a second wind during the 2023 summit in South Africa. During the summit in Kazan, Russia in October 2024, however, BRICS leaders agreed to concentrate on expanding trade in national currencies, taking into account the challenges of establishing a common currency amid member countries\u2019 differing economic systems and levels\u2002of development.  <\/p>\n\n<p style=\"line-height:1\">At the same time,\u2002the re-elected US president Donald Trump threatened to impose 150% taxes on goods from BRICS countries for the case they attempt to replace the dollar with a new currency. He explained that the measure was designed\u2002to protect the US economy from efforts to weaken the dollar&#8217;s global standing. <\/p>\n\n<p style=\"line-height:1\">The US threatening to impose high duties is seen from the perspective of national interest and is justified, experts say. However, such a measure would reinforce trade hostilities and would have a negative impact on the\u2002world economy. Moreover, there is no consensus within BRICS\u2002on the formation of a new currency: China and India are doubting, in view of possible economic risks and imbalances.  <\/p>\n\n<p style=\"line-height:1\">As a result, while some BRICS\u2002nations may wish to decrease their reliance on the dollar, launching a new joint currency has significant barriers. U.S. threats to\u2002impose high duties complicate matters even further, making the ability to establish an alternative currency less and less certain.  <\/p>\n<div class=\"wp-block-post-author\"><div class=\"wp-block-post-author__avatar\"><img alt='Maria Kuznetsova' src='https:\/\/www.mondevudailleurs.ae\/wp-content\/uploads\/2025\/05\/cropped-cropped-Moi-2-96x96.jpg' srcset='https:\/\/www.mondevudailleurs.ae\/wp-content\/uploads\/2025\/05\/cropped-cropped-Moi-2-192x192.jpg 2x' class='avatar avatar-96 photo' height='96' width='96' \/><\/div><div class=\"wp-block-post-author__content\"><p class=\"wp-block-post-author__name\"><a href=\"https:\/\/www.mondevudailleurs.ae\/en\/author\/marie\/\" target=\"_self\">Maria Kuznetsova<\/a><\/p><p class=\"wp-block-post-author__bio\">Secr\u00e9taire de redaction<\/p><\/div><\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"The BRICS initiative of developing a parallel currency has caused concerns in\u2002the international economy in the last few months, leading to US president Donald Trump taking action.","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[41,38],"tags":[48],"class_list":{"0":"post-4059","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-geopolitics","8":"tag-articles-en","9":"cs-entry","10":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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