Part 7/12:
Economic Warfare: Tariffs, Sanctions, and the Fight for Global Monetary Power
Trump’s policies extend beyond legislation—his administration has threatened 10% tariffs on BRICS countries if they engage in anti-American actions or seek to weaken US influence. This economic pressure aims to puncture BRICS efforts to shift away from dollar-based transactions, thereby preventing the emergence of a competing global reserve currency.
Additionally, efforts to reduce dollar reliance are supported by widescale diversification of international transactions. Since the Ukraine conflict, roughly 20% of global transactions are now settled in local currencies instead of dollars, signaling a significant shift in the global monetary landscape.