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Kremlin brushes off Trump tariff threat to BRICS, says no plan for common currency

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The Kremlin on Friday brushed off a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, saying there was no such plan.
The Kremlin has dismissed former U.S. President Donald Trump's threat to impose a 10% tariff on all imports as "quite strange," with spokesman Dmitry Peskov questioning the feasibility and economic logic behind such a policy. This statement came in response to Trump's comments during a campaign event where he suggested the tariff to protect U.S. industries. Meanwhile, the BRICS group, which includes Brazil, Russia, India, China, and South Africa, has clarified that it is not currently planning to introduce a common currency, despite discussions on reducing reliance on the U.S. dollar. This was stated by the South African ambassador to BRICS, Anil Sooklal, who emphasized that while the idea of a common currency has been floated, no concrete steps are being taken towards its implementation. The BRICS countries are instead focusing on enhancing trade in local currencies to mitigate the impact of sanctions and dollar dominance.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/kremlin-trump-tariff-threat-brics-says-grouping-is-not-planning-its-own-currency-2025-01-31/ ]