South Africa dismissed the idea of a BRICS currency to rival the US dollar, emphasizing that discussions focus on using national currencies for trade. This comes after Trump warned of a 100% tax on BRICS countries if they moved to create such a currency.
South Africa dismissed the notion of a confrontation with the US, clarifying that there are no plans within the BRICS group to create a rival currency to the US dollar. The Department of International Relations and Co-operation stated that discussions within BRICS focus on trading among member countries using their own national currencies, and not on de-dollarization or the creation of a new currency.
This clarification comes after President-elect Donald Trump threatened to impose a 100% tax on BRICS countries if they were to launch a currency to rival the dollar
South Africa BRICS Donald Trump Currency Dollar International Relations
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Yaz Plus Birth Control Pills Recalled in South Africa Over Packaging ErrorA serious packaging error has led to an immediate recall of a specific batch of Yaz Plus birth control pills in South Africa.
Read more »
South Africa says NO plans to develop a new BRICS currencyThere are no plans to create a BRICS currency after Donald Trump threatened to impose 100% tariffs on members of the economic bloc.
Read more »
President-Elect Donald Trump Issues Tariff Threat to BRICS Nations, South Africans Remain UnfazedUS President-elect Donald Trump has threatened to impose 100% tariffs on BRICS nations if they try to undercut the dollar, but South Africans have laughed it off.
Read more »
South Africa's G20 Presidency in 2025 - a Pivotal Moment for the Country and AfricaThe theme 'Fostering solidarity, equality, and sustainable development' aims at addressing critical global challenges, with a strong focus on Africa's development
Read more »
South Africa is the tech gateway into AfricaSolly Malatsi sought to inspire delegates at the opening of Africa Tech Festival 2024.
Read more »
Why South Africa is the Best Place for Investment in AfricaSouth Africa is one of the world’s top investment destinations today, offering a promising emerging market in a strategic location.
Read more »