Trump's tariff threat to BRICS nations could spur alternative currency efforts

Donald Trump has threatened BRICS nations with a 100% tariff if they create a new currency to rival the US dollar. His comments aim to maintain the dollar's dominance in global finance, which currently accounts for about 88% of foreign exchange trades. Market analysts suggest that Trump's pressure could backfire, potentially motivating BRICS countries to pursue alternative currency agreements. Recent deals between countries like Brazil and China indicate a cautious shift away from reliance on the dollar. While the dollar remains strong due to the US economy's size, the long-term outlook is uncertain. BRICS nations control over 40% of global central-bank reserves and have discussed reducing their dependence on the dollar.