Trump threatens a 100% tariff on BRICS countries if they abandon U.S. dollar
Trump threatens a 100% tariff on BRICS countries if they abandon U.S. dollar
The president-elect wrote that the coalition of non-Western countries “should expect to say goodbye to selling into the wonderful U.S. Economy” if it backs a currency other than the U.S. dollar.
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The bizarre Republican project of burning America to the ground, because they love it so gosh darn much, continues apace.
They falsely assume everyone else loves and covets it as much as they do.
For those with enough wealth, it's a win-win. Either the dollar stays strong and you continue to trade assets/stocks/bonds accordingly, or it craters and you invest in cost-competitive labor on par with India and China.
In the latter case, while foreign goods are priced out of reach, a booming manufacturing sector will come in and "save the day" in states with poor worker protections/rights. The real magic trick is making sure you (the 1%) are in the room when the decisions are made to hold or fold before the general public knows anything about it.
Failure for USA is progress for humanity.