December kicked off with another bold statement from the incoming US president. This time, Donald Trump targeted the BRICS nations, threatening them with a dramatic 100% increase in trade tariffs.
The soon-to-be resident of the White House demanded that the bloc’s countries commit not to introduce their own currency to replace the US dollar. No doubt, nobody expects such guarantees. However, Trump’s statement marked yet another driver in the looming trade war and sent investors flocking to the US dollar.
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