Over the weekend, President-elect Donald Trump threatened to wage a possible “100% tariff” against BRICS countries — which is composed of Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE) — if they attempt to undermine the US dollar with a new currency. Yahoo Finance Washington correspondent Ben Werschkul lays out Trump’s tariff policy plans to deter a possible inception of an international payment system between these countries, being dubbed “BRICS Pay,” To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
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