President-elect Donald Trump threatened to impose a 100% tariff on the BRICS coalition of non-Western countries if they move away from trading in the U.S. dollar. He believes that any attempt to replace the U.S. dollar in international trade will result in significant consequences for those countries. The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, has been exploring the idea of reducing the influence of the U.S. dollar in global trade, although experts are skeptical about the group’s ability to create its own currency due to internal differences.
Trump also announced plans to raise tariffs on Mexico and Canada by 25% and impose an additional 10% tariff on China to address issues related to drug trafficking and border security. He met with Canadian Prime Minister Justin Trudeau to discuss cooperation on combating drug-related issues, while Mexican President Claudia Sheinbaum emphasized the need for mutual understanding and cooperation instead of threats and tariffs to address migration and drug consumption.
The conversations between Trump and the leaders of Mexico and Canada have led to concerns about trade relations and the potential impact of tariffs on shared enterprises. While Trump seeks to address drug-related challenges through tariffs, Sheinbaum and Trudeau emphasize the importance of working together to tackle these issues effectively and avoid escalating trade tensions.
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