Source: Bitcoin.com
by Sergio Goschenko
“President-Elect Trump has used tariffs again as a weapon to maintain the U.S. dollar as the predominant reserve and trade currency. Trump called countries of the BRICS bloc, known for their de-dollarization agenda, to stop their efforts of creating a new currency and payment system, threatening to apply 100% tariffs to their products destined for U.S. soil. … Trump’s announcement seems similar to the one focusing on Mexico, China, and Canada, using tariffs to force capitulation and reach agreements with the nations harmed by these measures. However, the BRICS situation might be a little different, given that Russia, one of the largest nations of the bloc, did not abandon the U.S. dollar on its own, but was forced to, given the sanctions applied as a result of Moscow’s participation in the conflict against Ukraine.” (12/01/24)