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External Affairs Minister S Jaishankar said that diplomats have to tell themselves, it’s a messy world.
External Affairs Minister S Jaishankar speaks during a panel discussion on ‘Conflict Resolution in a New Era’, in Doha, Qatar. (PTI)
External Affairs Minister S. Jaishankar on Saturday said that BRICS countries have no intention of weakening the US dollar, following recent threats from US President-elect Donald Trump, who warned of imposing a 100 per cent tariff if BRICS countries went ahead with plans for a common currency.
Jaishankar’s comments came a week after Trump’s remarks. He also stated that the BRICS nations do not share a uniform stance on this matter.
“I am not exactly sure what was the trigger for it but we’ve always said that India has never been for de-dollarisation. Right now, there is no proposal to have a BRICS currency,” Jaishankar said at the Doha Forum in Qatar’s capital.
Jaishankar is in Doha to attend the Doha Forum at the invitation of Qatari Prime Minister and Minister of Foreign Affairs Mohammed bin Abdulrahman. He was speaking on a panel alongside the Qatari Prime Minister and Norway’s Foreign Minister, Espen Barth Eide.
What did Trump say?
Last week, Trump posted on his Truth Social platform, demanding a commitment from BRICS nations that they would not create a new currency or back any other currency to replace the US dollar.
He warned that failure to do so would result in “100 per cent Tariffs.” The BRICS group includes Brazil, Russia, India, China, South Africa, and other nations.
“We require a commitment… that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 percent Tariffs,” Trump wrote.
Trump further warned that BRICS countries should “expect to say goodbye to selling into the wonderful US Economy” if they continued with plans to move away from the US dollar.
He added, “They can go find another ‘sucker!’ There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America.”
Trump remarks come after a BRICS summit in Kazan, Russia, last month, where member countries discussed enhancing non-dollar transactions and strengthening their local currencies.
The BRICS coalition, which has expanded significantly since its inception in 2009, now includes countries such as Iran, Egypt, and the United Arab Emirates, representing a notable portion of the world’s economic output.
(With inputs from agencies)
