US President Donald Trump has threatened India and other BRICS countries with a 10% tariff if they challenge the US dollar’s global standing. The move comes as Trump claims that BRICS, an economic bloc comprising Brazil, Russia, India, China, and South Africa, is set up to hurt the US and “degenerate” its currency. Trump believes that any country trying to challenge the dollar will face significant consequences, but says he doubts any of them are willing to pay the price. The president also warned that under a “stupid president”, the US could lose its position as the issuer of the world’s standard currency, which would have catastrophic economic implications.
Source: https://www.hindustantimes.com/world-news/us-news/dollar-is-king-donald-trump-says-brics-including-india-will-face-10-tariff-101751997260991.html