In a geopolitical context already marked by growing economic tensions, Donald Trump has rekindled trade hostilities and again attacks the BRICS. The American president described the economic alliance as “dead” and threatened to hit his members with a 100 % tax on their exports to the United States if they persisted in questioning the supremacy of the dollar. This declaration immediately caused a diplomatic reaction from China, which denounced destructive protectionism and affirmed its commitment to strengthen cooperation between emerging economies.
Trump relaunches the trade war against the BRICS
Donald Trump's tone is unequivocal. Thus, during a recent intervention, the American president launched a frontal attack on the BRICS because he says that “the BRICS died and that if they want to play with the dollar, they will be struck by a 100 % tax ». His remarks refer to the initiatives taken by several Bloc member countries, including China and Russia, which seek to circumvent the dollar in their international transactions. The former tenant of the White House, known for his protectionist positions, thus threatens to close the American market for the exports of the BRICS if the latter continue on this path.
Indeed, Trump's announcement is part of a broader logic of commercial confrontation with emerging powers. During his first mandate, he had already imposed massive customs duties on Chinese steel and aluminum, which led to economic reprisals. Today, this rhetoric is part of a context where the BRICS gain influence and seek to strengthen their financial autonomy in order to move away from the monetary system dominated by the dollar. The threat of a price of 100 % is therefore perceived as a strong signal sent to the block partners: any gap vis-à-vis the American financial system will be severely sanctioned.
China replies: “No one is winning a business war”
Faced with Trump's statements, Beijing was quick to react. Guo Jiakun, spokesperson for the Chinese Foreign Ministry, denounced A counterproductive protectionist approach. He recalled that “commercial and tariff wars only harm the common interests of the peoples of all countries”. In addition, he insists on the importance of economic cooperation within the BRICS. For China, this American threat is a new example of Washington attempts to impose a unilateral economic order, to the detriment of emerging economies.
However, Beijing considers that this attack, on the contrary, strengthens the need for increased financial autonomy for the BRICS. In recent months, the block has multiplied initiatives to diversify its exchanges using local currencies and accelerate discussions around a dollar payment system. Such development could further weaken the influence of the United States on international trade and encourage other nations to reduce their dependence on the greenback.
If Trump maintains his position, the countries of the BRICS could be forced to speed up their transition to an economic model less dependent on the dollar. This commercial escalation could promote the development of cryptos and digital currencies of central banks (CBDC), already in development in several block countries. Such an evolution would mark a major break with the current financial order, by reducing American influence on international trade. On the other hand, the imposition of such drastic customs tariffs could cause an increase in prices for American consumers and a weakening of trade. Historically, such protectionist policies have often led to increased economic tensions and retaliatory measures on the part of the countries targeted. While China and its BRICS partners continue to explore alternatives to the current monetary system, the looming trade war may well be the prelude to a new global financial era.
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