President Trump has threatened tariffs on BRICS-aligned nations, complicating crypto diplomacy amid rising tensions over de-dollarization initiatives.
U.S. President Donald Trump has warned of a 10% tariff on exports from countries supporting BRICS’s “anti-American policies,” escalating tensions as the bloc explores alternatives to the U.S. dollar through crypto and CBDC-based systems like BRICS Pay.
While Trump supports crypto domestically, this threat targets BRICS nations’ digital finance efforts aimed at bypassing Western-controlled payment networks. BRICS Pay, unveiled in late 2024, uses blockchain infrastructure and national digital currencies to reduce dollar dependency—especially by sanctioned members like China and Russia.
China’s foreign ministry responded, warning against protectionism and trade wars. The tariffs, set to follow the expiry of a 90-day suspension on July 9, could pressure developing nations adopting BRICS-led financial tools.
Trump’s stance underscores a paradox: promoting crypto at home while opposing global blockchain systems challenging U.S. monetary dominance. Experts warn such a stance could fragment the global digital economy and hinder crypto’s international growth.
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