Donald Trump, a man who never shied from bold declarations, has once again turned the global stage into a theater of economic brinkmanship. His target: the BRICS coalition, a bloc of emerging powers that includes China, Brazil, India, Russia, and South Africa (and now Iran, the UAE, Ethiopia, and Egypt as well). With more than 30 countries showing interest, BRICS is steadily challenging the traditional economic order.

Trump, in his signature style, announced on Truth Social that BRICS nations could face 100 percent tariffs should they dare to establish a unified currency or undermine the U.S. dollar. “The idea that BRICS countries are trying to move away from the Dollar while we stand by and watch is OVER,” he declared, a warning laced with the defiance that defined his presidency.

Such rhetoric, pointed and pugnacious, reveals the deep unease in Washington as this coalition’s economic clout grows. Although the notion of a BRICS currency is tantalizing, it faces formidable obstacles: economic disparities, political tensions, and the challenge of aligning diverse national interests. Yet, the use by BRICS of alternative financial systems to sidestep Western sanctions—particularly for Russia and Iran—signals a shift that could chip away at the........

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