US President Donald Trump has once again threatened Brics countries, including India, of imposing 100 % taxes on business in case the alliance moves ahead with plans to replace the US dollars.
In his speech after assuming business as the 47th US senator on Monday, Trump made it clear that any attempt by Brics governments to walk away from the money would not be tolerated.
” If the Brics countries want to do that, that’s fine, but we’re going to put at least a 100 % tax on the company they do with the United States,” Trump said, emphasising that any such actions may result in severe sanctions.
He more asserted that the states would have to face big taxes even if they even considered reducing the dollar’s role in global industry.
Brics, an international company consisting of ten states: Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates, has been at the center of global economic conversations.
Trump had warned the group recently in December also, against attempts to replace the money with a new currency.
” We require a commitment from these countries that they will either make a new Brics currency, nor up any other currency to change the magnificent US dollar or, they may face 100 per cent tariffs and may expect to say goodbye to selling into the great US economy,” Trump said at the time.
American outside affairs secretary S Jaishankar more affirmed India’s attitude regarding the successor of dollar, stating that the country has not supported de-dollarisation and there were no plans for a Brics currency.
On a unique word, Trump also addressed inquiries on immigration. He expressed his support for constitutional immigration, stating that the land would need more staff to assist manufacturing rise due to his tax laws.
” I’m good with constitutional immigration. I like it. We need persons, and I’m totally okay with it. We want to have it,” he said.
