By Admin 
Trump Attack on BRICS: US President Donald Trump, who created a stir this year by imposing tariffs on countries around the world, is now worried about the American currency dollar. This supremo of the global superpower America feels that a big conspiracy is being hatched against the dollar, and he has held the BRICS countries responsible for this. Trump described BRICS as an “attack” on the US dollar and claimed that he threatened to impose tariffs on countries that wanted to join BRICS — after which they backed down.
Whose threat is to the dollar?
The BRICS group includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates (UAE). Trump says that this group is adopting an “anti-American policy”, so he has been warning of imposing additional tariffs on these countries. On the other hand, BRICS countries have expressed serious concern about the arbitrary tariffs being imposed by Trump, because it affects global trade.
In a bilateral meeting with Argentinian President Javier Milli, Trump said that he has a very tough stance on the dollar and, “Anyone who wants to transact in dollars will have an advantage over those who do not want to do so.”
Why is Donald Trump afraid?
Trump said, “I told all the countries that want to join BRICS… OK, but we will impose tariffs on your country. Everyone backed off. BRICS is an attack on the dollar.” He further said that if any country wants to join BRICS, “then I will impose tariffs on all your products coming to America.”
The BRICS countries said in a statement last month that such “indiscriminate increase” in tariffs could disrupt global trade and lead to trade-restrictive policies. The Trump administration has imposed high tariffs on many countries this year.
impact on india also
It is noteworthy that apart from the 25 percent base tariff, America has also imposed an additional 25 percent duty on products imported from India due to purchasing cheaper crude oil from Russia. In this way, a total of 50 percent US tariff is applicable on Indian exports, which is adversely affecting India-US trade.
Read this also: Due to fall in crude oil and intervention of RBI, the Indian rupee got a boost, gave a huge defeat to the US dollar.