Trump threatens a 100% tariff on BRICS countries if they abandon U.S. dollar
Trump threatens a 100% tariff on BRICS countries if they abandon U.S. dollar
The president-elect wrote that the coalition of non-Western countries “should expect to say goodbye to selling into the wonderful U.S. Economy” if it backs a currency other than the U.S. dollar.
Headline is a bit inaccurate. "If they use anything other than dollar" is the quote.
While neocon colonial handlers have been making the west puppets fall over themselves over offering more war, there was already a strong division in the world.
Trade prevents wars. The world becoming more divided will make the US more isolated, and anger the low hanging fruit of dealing with decline. Investment outside of the US and its influence have already taken off. This posturing is not significantly different than the path the Biden administration set on, but there is a matter of style that will cause the US colonies to choose between dignity and extreme ever subjugated diminishment to US control and profits, even as the US itself causes its own decline.
As always, Trump talks about tarffs as if it's a punishment he threatens to impose on other nations, when in reality, tariffs are first and foremost a punishment on the American people.
Exporting countries will not foot the bill. American importers will, and they'll pass the extra cost on to the American consumers.
Tariffs may ultimately spur the development of domestic manufacturing of whatever imported goods will be taxed. That's the entire point of tariffs after all. But it's far from certain and it will take years in the best of cases - years during which Americans will become poorer and will have a harder time making ends meet.
That's what Trump is really proposing. That's what the Americans voted for.
I'm with you, but I can see the other side of this.
The US experienced shocking shortages during the global pandemic.
I'm not personally a huge fan of tariffs as the way to keep manufacturing local, but I think it's a goal worth pursuing.
And I value of impact of global trade toward peace, and I'm increasingly inclined to believe it's critical for our survival as a race.
But I'm sympathetic to having some provision for ensuring local production of basic necessities. It's foolish to always assume that someone will be willing and able to ship what we need halfway across the globe.
I'm not sure that tariffs are an acceptable answer, but I am sure that we need to stop assuming there will always be another impoverished nation excited to be exploited to produce things for us cheap.
It's wise to have some provision for locally producing critical things.
https://en.m.wikipedia.org/wiki/Member_states_of_BRICS
They're not gonna do it, too many of those countries are wildly corrupt and their leads likely have a lot of US dollars scattered all over.
They don't want to hurt their personal wealth's value.
But trump's followers will say he's a genius for preventing what was never gonna happen.
He obviously is a genius. Don't you know he won three presidential elections in a row? /s
Now we just need to tariff the blue states!!!
/s
Ingl, he's an idiot, but his complete lack of any subtlety, diplomacy and adequate responses never fails to amuse me... As long as I'm not on the receiving end that is