Tharoor Dismisses Trump’s Tariff Threats Against BRICS, Says US President Has 'No Concrete Plans'
The statements of Shashi Tharoor came after repetead warning of Trump to BRICS nations regarding potential currency alternatives.
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Congress MP Shashi Tharoor dismissed the tariff threats given by US President Donald Trump against BRICS nations, calling it "a bit empty," pointing out that there are no concrete plans to replace the US dollar.
Tharoor emphasised that the dollar remains a "practical convenience" for most countries and noted that BRICS has yet to present a significant proposal for an alternative currency. Commenting on Trump's remarks, he told TOI, "I heard this comment by President Trump. But, the fact is there is no serious proposal for the Brics to come up with an alternative currency to the dollar. The dollar is a practical convenience for most countries in the world."
"There may have been some discussion, and we certainly have in the past had some examples of Rupee-Rubel trade with Russia, Rupee-Riyal trade with Iran, and so on. So, that's not impossible. An alternative international currency. I don't think there is any particular plan whatsoever to do that. And therefore, the threats of the president seem a bit empty because it's only if there is an actual proposal that comes up and that countries like India are taking it seriously. I don't see any support in the Indian government for such a proposal. So, until that happens, why should we worry," he added.
There Is No Chance That BRICS Will Replace US Dollar: Donal Trump
The statements of Shashi Tharoor came after repetead warning of Trump to BRICS nations regarding potential currency alternatives. Previously, Trump warned on Social media against the idea that the BRICS Countries are trying to avoid the Dollar.
"We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 per cent Tariffs, and should expect to say goodbye to selling into the wonderful US Economy. They can go find another sucker Nation. There is no chance that BRICS will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!" he added.
This statement reaffirmed the stance of Trump on preserving the dollar's supremacy in global trade, implying potential economic consequences for countries exploring alternative currencies.
Additionally, at the 15th BRICS Summit in 2023, Russian President Vladimir Putin pushed for de-dollarization, urging BRICS nations to expand the use of national currencies in transactions and enhance banking collaboration.
In June 2024, BRICS foreign ministers gathered in Nizhny Novgorod, Russia, where they also endorsed a greater reliance on local currencies for trade and financial dealings among member states.
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