On the heels of immense threats from the West and geopolitical concerns brewing, the BRICS economic alliance appears to remain steadfast in its commitment to ditching the US dollar in 2025. Indeed, the collective has seemingly confirmed the matter, as recent discussion pointed to their belief in de-dollarization as a certain necessity.
US President-elect Donald Trump has been outspoken in his defense of the greenback. Throughout this campaign for reelection, he continually reiterated the importance of keeping the dollar as the world’s currency. After his victory, he issued a warning to BRICS specifically, threatening 100% tariffs on the bloc seeking to create their own dollar alternative.
Source: LA Times
Also Read: BRICS: India Likely Dumping the U.S. Dollar
BRICS to Keep Ditching the US Dollar Despite Trump Threats And There’s One Key Reason Why
The last year has seen the BRICS economic alliance continue their notable ascent. Once just a five-nation collective, the group phase doubled in size with its most recent expansion. Morefover, it has big plans for the global economic market that have seen the West take an undeniably favorable stance.
Although Trump has warned of impending repercussions, the BRICS bloc has reiterated that they are likely to keep ditching the US dollar in 2025 through a recent confirmation. Indeed, the group discussed the reality that de-dollarization is a necessity so long as the United States continues doing one thing.
Source: MarketWatch
Also Read: BRICS Nation Announces Intent to Embrace Trump, US Amid Tariff
In a recent statement, former International Monetary Fund director and Brazilian economist Paulo Nogueira Batista Jr. discussed the fact that sanctions are driving the bloc’s actions. Batista spoke to Russian President Vladimir Putin directly and relayed the foundation of its financial actions as an alliance.
“We are not against the dollar. It is the dollar that is against us,” he said in a recent interview. “Cahellengin the dollar and the US economy would not be possible, and in any case, it’s not our objective. The BRICS will serve to make us immune to sanction.”
So long as the United States continues sanctioning nations like Russia and Iran, the BRICS bloc is unlikely to shift on its de-dollarization approaches. However, that has not stopped dissension within the group from forming.
India has recently spoken about its desire to work with the incoming Trump regime. Moreover, the president-elect stated that he has been in direct contact with China. Specifically, hinting at the country taking a similarly collaborative approach.
