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Bitcoin.com News|Feb 16, 2025 18:42
💵 Stopping de-dollarization is a top priority for President Trump, who believes he has the solution to keep countries from moving away from the "mighty" U.S. dollar! 🇺🇸💪
Last week, Trump warned that his tough policies would make third countries think twice about conducting business outside the dollar. He reiterated that undermining the U.S. dollar would have serious consequences, specifically targeting the BRICS bloc.
Trump threatened to impose tariffs of up to 100% on nations "playing games with the dollar," a tactic he has used before to achieve his economic goals. 📈⚠️
While Trump has previously stated that countries with de-dollarization agendas should "say goodbye" to selling into the U.S. economy, some economists view his threats as largely symbolic. Jim Rickards noted that gold is the closest thing BRICS has to a new currency.
Despite the pressure, BRICS members like Russia and China are ramping up their use of national currencies in trade, with Iran supporting the idea of a BRICS currency if consensus is reached.
What do you think about Trump's approach to de-dollarization? Let us know!
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