Trump warns BRICS nations of tariffs over currency support as India defends local trade options

US President-elect Donald Trump has warned BRICS nations of 100% tariffs if they support a currency other than the US dollar. He emphasized the need for these countries to commit to not creating or endorsing a competing currency. In response, India's External Affairs Minister S. Jaishankar defended local currency trade, highlighting the importance of multipolarity and the challenges posed by US dollar policies. He noted that some trade partners face difficulties using dollars due to these policies. Jaishankar stated that India aims to enhance its financial infrastructure to adapt to changing global trade dynamics. He suggested that focusing on local currency trading is a more practical approach than fully adopting a BRICS currency.