Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar

shockedcanadian

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Aug 6, 2012
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Now he is getting serious. It is critical that the U.S reserve currency remain as such.


WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining.

While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.

The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar’s dominance is threatened, however, with BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies — a process known as de-dollarization.

Trump, in a Truth Social post, said: “We require a commitment from these 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, and should expect to say goodbye to selling into the wonderful U.S. Economy.
 
Trump did nothing last time they dumped our treasuries to crash the dollar. Trump assisted them by printing more & exploding debt. Trump is on the side of the BRIC's & anti US Dollar. Now Trump wants Bitcoin to crash the US Dollar.
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Now THAT is a great threat...although it should be 1000%.

If all the BRICs act in concert to undermine the US dollar...A donut will cost $175.

A cheeseburger around $1,000...if you can find one.
I doubt food prices will soar that high, because we grow our own & feed them, so when they retaliate, their food price will explode causing a food glut here.
 
I doubt food prices will soar that high, because we grow our own & feed them, so when they retaliate, their food price will explode causing a food glut here.

The U.S can also force embargoes and use other levers to prevent food from entering some of these countries.

Trump has to get the far-left fools in Europe to wake up and build their military. Even when Canada was not fully funding our military we were sending $10s of billions to Ukraine who in turn purchased U.S weapons. We have tried to do out part.

Something to consider. Everyone on here knows I am no apologist and I fully believe that Canada should fund the military to 2%. That said, Trudeau hasn't been nearly as bad as some say, though he has a steep climb for re-election due to inflation and other issues.
 
Now he is getting serious. It is critical that the U.S reserve currency remain as such.


WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining.

While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.

The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar’s dominance is threatened, however, with BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies — a process known as de-dollarization.

Trump, in a Truth Social post, said: “We require a commitment from these 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, and should expect to say goodbye to selling into the wonderful U.S. Economy.
Are you going to dabble and buy some BRIC currency. Buy crypto through coinbase. With the types of countries that are BRIC's member, I would say risk is off the scale.
 
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Now he is getting serious. It is critical that the U.S reserve currency remain as such.


WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining.

While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.

The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar’s dominance is threatened, however, with BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies — a process known as de-dollarization.

Trump, in a Truth Social post, said: “We require a commitment from these 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, and should expect to say goodbye to selling into the wonderful U.S. Economy.
Fucking horrible idea....It's a variation of the debanking crap that Trumpsters and other disinters have been put through, on an international scale.

End the Fed and have a USD of substance compete with the world's fiat funny money.
 
Which all hinges on cheep energy/fuel! So our ultimate protection will be DRILL BABY DRILL!
LOL

We have been producing record oil. More oil than we can use or export, so we have been refilling the SPR for 18 months to prevent another oil glut.

We have had a food glut here in the USA for ever. The brand processors & markets are the ones screwing everyone for record high profit margins.

Farmers grains & produce prices are near a 20 year low, yet grocery prices remain near all time high.

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Now he is getting serious. It is critical that the U.S reserve currency remain as such.

I'm not so sure I would have issued it as a threat right now, maybe just a warning of potential outcomes at this point, but sure, I am OK with it. I mean, I think I can live without ANYTHING from those 9 countries. I'll make due. I can live without:
  • Brazil nuts,
  • Russia vodka,
  • Indian tech service,
  • anything from fucking China,
  • South African wood,
  • Egypian cotton,
  • Ethiopian peppercorns,
  • Iranian Korans,
  • UAE whatevers,
  • Turkish tobacco,
  • Azerbaijan drones and
  • Malaysia spices.
Everyone of these countries needs my consumption far more than I need them.
 
I doubt food prices will soar that high, because we grow our own & feed them, so when they retaliate, their food price will explode causing a food glut here.
Seriously?!

During Trump's last rodeo, so many of our farmers were slammed because China just went to South America to get their soybean and corn. So, what did small gummint Trump do? Subsidies to the farmers to compensate for their lost revenue.

That was in addition to higher prices we had to pay for stuff imported from China.

Simplistic pap might feel good but can (as it did in the last rodeo) hit us in our collective pocketbooks - well, not those of the very rich.
 
Seriously?!

During Trump's last rodeo, so many of our farmers were slammed because China just went to South America to get their soybean and corn. So, what did small gummint Trump do? Subsidies to the farmers to compensate for their lost revenue.

That was in addition to higher prices we had to pay for stuff imported from China.

Simplistic pap might feel good but can (as it did in the last rodeo) hit us in our collective pocketbooks - well, not those of the very rich.

Do you know how dependent China is on access to U.S markets?

If tomorrow the U.S blocked all trade with China, their economy would suffer exponentially worse damage than the U.S economy.
 
It is critical that the U.S reserve currency remain as such.
Why? Seems to lead to too much instability when it is weaponised, from my observation.

Not suitable in a 'reserve currency'.


Swiss Francs, perhaps.
 
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Now he is getting serious. It is critical that the U.S reserve currency remain as such.


WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining.

While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.

The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar’s dominance is threatened, however, with BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies — a process known as de-dollarization.

Trump, in a Truth Social post, said: “We require a commitment from these 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, and should expect to say goodbye to selling into the wonderful U.S. Economy.

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