US Tariffs on BRICS Could Deepen Global De-Dollarization Trend, Economist Warns
2025-07-11 02:38:35
Main Idea
US tariffs on BRICS nations could accelerate global de-dollarization as BRICS countries develop alternatives to the dollar-dominated financial system, according to economist Igbal Guliyev.
Key Points
1. A planned 10% tariff on BRICS nations by the US could harm Washington's long-term economic leadership.
2. BRICS countries are already working on structural alternatives to reduce dollar dominance.
3. The tariffs may prompt a coordinated counterstrategy from BRICS, including bypassing Western systems like SWIFT.
4. China has denounced the proposed tariffs as economic coercion.
5. Russian Deputy Foreign Minister Sergey Ryabkov stated that BRICS has no anti-US intentions despite the trade tensions.
Description
Dollar dominance faces a historic reckoning as looming U.S. tariffs on BRICS nations risk accelerating de-dollarization and fueling a rapid pivot to rival financial systems. US Tariff Threats Could Backfire as BRICS Strengthens Parallel Financial System Mounting economic divergence between major global powers is accelerating the shift toward a multipolar trade system and eroding traditional
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