KUALA LUMPUR, MALAYSIA - The President elect of the USA has threatened BRICS countries with 100% tariffs if they pursue an alternative to the dollar.
Various BRICS leaders have spoken about the possibility of an alternative currency but there’s no consensus or major impetus yet.
READ: Trump vows to defend US dollar hegemony, but is it under threat?
Trump says the US will no longer stand and watch while BRICS countries are trying to move away from the dollar.
He is quoted as saying that the idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over.
Thembisa Fakude who is a senior researcher and director at Africa-Asia Dialogues had a discussion with eNCA on this topic.