The idea of a BRICS currency was discussed during the 2024 BRICS Summit in Russia, where leaders explored the possibility of introducing a gold-backed alternative to the dollar. According to reports from Nasdaq-affiliated Investing News Network, the proposed currency could empower BRICS nations by reducing reliance on the dollar while strengthening their influence within the global financial system.
Escalating Trade Tensions
Trump’s latest tariff threat follows a similar warning issued in December when he vowed to take immediate action against China, Canada, and Mexico if they pursued financial policies that undermined the U.S. economy. His stance signals a broader strategy of economic protectionism aimed at preserving the dollar’s dominance in global trade.
A representative for the BRICS business council did not immediately respond to requests for comment on Friday.
