Is Uncle Sam shooting himself in the foot? 🤔
Some experts believe that former U.S. President Donald Trump's recent threat to slap a 100% tariff on BRICS nations could do just that. The nine-member alliance, which includes heavyweights like China, Brazil, Russia, and India, has been discussing moving away from the U.S. dollar in international trade.
Trump's hardball tactics aim to force these countries to stick with the greenback. But here's the plot twist: by pushing so hard, he might actually be speeding up the very thing he's trying to prevent! 🚀
\"It's like trying to hold sand in your fist—the tighter you squeeze, the more it slips away,\" says one analyst. By insisting on the use of the U.S. dollar, the U.S. might be encouraging these nations to double down on their efforts to ditch it.
The de-dollarization movement isn't just about currency; it's about shifting economic power and creating a more multipolar world. 🌐 As BRICS nations explore alternative trade currencies, they challenge the long-standing dominance of the dollar.
So, will Trump's tariff threats backfire? Only time will tell, but one thing's for sure—the global economic landscape is changing, and we'll be watching closely! 👀
Reference(s):
cgtn.com
