The context of tariff threats
In recent years, the global economic landscape has undergone significant changes, with the emergence of powers such as the BRICS, a group that includes Brazil, Russia, India, China and South Africa. These countries are trying to reduce their dependence on the US dollar, creating a new commercial dynamic. In this context, the recent threats of 100% tariffs by former President Donald Trump represent an attempt to maintain American economic hegemony, but they raise questions about how these measures will affect international relations and the global
economy.
The reactions of the BRICS countries
Trump’s statements elicited immediate reactions among the leaders of the BRICS countries. The Brazilian president, Luiz Inácio Lula da Silva, responded by stating that Brazil will adopt reciprocal measures if the United States imposes tariffs on Brazilian products. This position highlights the growing determination of the BRICS countries to defend their economic sovereignty and to respond to external pressures. Russia, for its part, has warned that any attempt to force countries to use the dollar could backfire on the United States, suggesting that trade tensions
could escalate further.
The future of the BRICS currency
One of the main objectives of the BRICS is the creation of a common currency, often referred to as ‘BRICS Pay’, to facilitate trade between members without having to depend on the dollar. However, political and economic differences between countries could hinder this process. Despite this, interest in an alternative currency is growing, especially after the sanctions imposed on Russia, which have prompted members of the group to seek solutions to evade the economic system dominated by the dollar. Cooperation between the BRICS could represent a significant challenge for American economic hegemony, while the world is watching closely how these dynamics will evolve
.
Implications for financial markets
Trump’s threats have already had repercussions on financial markets. The dollar showed signs of appreciation, while the currencies of countries with strong trade ties with the United States began to record losses. Analysts warn that the uncertainty generated by tariff threats could negatively affect the global economic outlook, leading to greater volatility in currency markets. In addition, the fear that tariffs could extend to sectors such as gold has pushed precious metal prices to record levels, highlighting how trade tensions can have ripple effects
on the global economy.