The government has moved swiftly to deny claims by US President that BRICS+ could dump the dollar for another currency or even start their own.
Chrispin Phiri who is the spokesperson for international relations minister took social media platform X to respond to US President Donald Trump’s post in which he threatens imposing 100 percent tariffs on BRICS countries should they stop using the dollar. Phiri said: “BRICS was not discussing an alternative currency but merely sought to level the playing field of international trade.
“Recent misreporting has led to the incorrect narrative that BRICS is planning to create a new currency. This is not the case. The discussions within BRICS focus on trading among member countries using their own national currencies.”
Trump argued the US currency was superior and that the country had lucrative markets that he could block BRICS countries from trading in those markets.“
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.
“They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America,” Trump posted on X.
Russia, a founding member of BRICS has consistently accused the USA of weaponising the dollar. Russia is currently under multiple US sanctions and has been blocked from the global banking system, SWIFT (The Society for Worldwide Interbank Financial Telecommunication) which makes transacting between countries easier. This comes as pressure groups in South Africa fear the Government of National Unity may veer the country towards the West instead of solidifying relations with the global South.