President-elect Donald Trump announced that he would impose a 100% tariff on the BRICS coalition of non-Western countries if they moved away from trading using the U.S. dollar. The BRICS alliance includes Brazil, Russia, India, China, and South Africa, and has recently expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. While the idea of creating a new BRICS currency for global trade has gained traction, experts are skeptical of its success due to disagreements between member nations.
Trump also threatened to raise tariffs on Mexico, Canada, and China to address issues such as the fentanyl crisis and drug trafficking. Canadian Prime Minister Justin Trudeau visited Trump to discuss the drug epidemic, while Mexican President Claudia Sheinbaum emphasized the need for cooperation rather than threats or tariffs. Trump’s conversations with Sheinbaum also led to a dispute over whether Mexico had agreed to stop immigration into the U.S.
Overall, Trump’s tariff threats and discussions with foreign leaders revolve around addressing trade issues, drug trafficking, and migration. While Trump remains firm on his stance on tariffs, foreign leaders emphasize the importance of cooperation and mutual understanding to tackle shared challenges such as drug epidemics and migration.
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