Shashi Tharoor Responds to Trump's Tariff Threats on BRICS Nations
Shashi Tharoor Responds to Trump's Tariff Threats on BRICS Nations
In New Delhi, Congress MP Shashi Tharoor addressed US President Donald Trump's threats to impose tariffs on BRICS nations. Tharoor stated that these threats "seem empty" as there is no serious proposal for BRICS to introduce an alternative currency to the US dollar. He emphasized that the dollar remains a "practical convenience" for most countries.
Tharoor mentioned past examples of trade using local currencies, such as Rupee-Rubel with Russia and Rupee-Riyal with Iran, but noted that there is no current plan for an alternative international currency. He believes Trump's threats are unfounded unless a serious proposal emerges, which he does not see happening in India.
Trump's comments, posted on Truth Social, warned BRICS nations against moving away from the dollar, threatening 100% tariffs if they attempt to create or support a new currency. He insisted that the US holds leverage over BRICS countries and dismissed any notion of US vulnerability.
Previously, during the 15th BRICS Summit in 2023, Russian President Vladimir Putin advocated for de-dollarisation, and in June 2024, BRICS foreign ministers discussed enhancing the use of local currencies in trade.
Doubts Revealed
Shashi Tharoor
Shashi Tharoor is an Indian politician, author, and a Member of Parliament (MP) from the Congress party. He is known for his eloquent speeches and writings.
Trump's Tariff Threats
Tariff threats refer to US President Donald Trump warning that he might impose extra taxes on goods coming from certain countries. This is usually done to protect local businesses or to pressure other countries in trade matters.
BRICS Nations
BRICS is a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. These countries work together on various economic and political issues.
US Dollar
The US dollar is the official currency of the United States and is widely used around the world for international trade and finance. It is considered a strong and stable currency.
De-dollarisation
De-dollarisation is the process of reducing the use of the US dollar in international trade and finance. Countries might do this to reduce their dependence on the US economy.
Truth Social
Truth Social is a social media platform launched by Donald Trump. It is similar to Twitter and is used for sharing messages and updates.
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