New Delhi: Even before sitting on the chair of the US President, Donald Trump has shown his attitude to the world. Especially the BRICS countries. America’s attitude is going to be tougher towards BRICS countries. Donald Trump has shown a glimpse of this. America’s newly elected President Donald Trump has warned BRICS countries of 100 percent tariff. While warning the BRICS countries, Donald Trump has clearly said that they will have to pay 100 percent tariff if they replace the US dollar with another currency. The warning to BRICS countries also means a warning to India. The reason is that BRICS countries include India, Russia, China, Brazil, South Africa, Egypt, Iran, UAE and Ethiopia.
First of all let us know what threat Trump has given. Donald Trump has sought assurance from BRICS countries on not introducing new currency. If BRICS countries introduce their new currency in place of the US dollar, then America will impose 100 percent tariff. Donald Trump said, ‘If the BRICS countries create a BRICS currency or support another currency against the dollar, then they will have to pay 100 percent tariff and will have to say goodbye to selling their goods in America. There is no chance that BRICS will replace the US dollar in the international market.
Why did Trump threaten?
This threat by Donald Trump means that India will also come under its influence. India is an important member of BRICS. Trump has given this statement at a time when there is talk that BRICS countries are considering a new currency of their own or other options instead of the US dollar. This warning by Trump can have a significant impact on the global economy and America’s currency policy. BRICS summit was held only last month. The new currency was discussed in the same meeting. But after this threat from Donald Trump, BRICS countries have been forced to think once again.
What effect does Trump’s threat have on India?
Now the question is how much impact will this attitude of Trump have on India. India is a developing country. India has to depend on Russia as well as America for its progress. In such a situation, India will need to move forward very thoughtfully. Actually, there is a lot of trade between India and America. India not only imports goods from America but also exports them. If Trump imposes 100 percent tariff on BRICS countries, it means that it will also apply to India. In such a situation, it will become very difficult for India to import and export from America.
America has been India’s big trading partner
If we look at the figures, currently the maximum trade is taking place between India and America. Let us say that America is India’s largest trading partner. Bilateral trade between India and America stood at $118.3 billion in 2023-24. Was the top trading partner of America and India during the years 2021-22 and 2022-23. But this year in the financial year 2023-24, China has emerged as India’s largest trading partner with bilateral trade worth $118.4 billion. China has left America behind in this matter. This means that after China, America is India’s largest trading partner. India is an important partner of America in various fields including trade, technology and security. In the same year 2023-24, India’s exports to America have been around 41 dollars.
Tags: BRICS Summit, Donald Trump, US news
FIRST PUBLISHED: December 1, 2024, 09:28 IST
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