Investing.com -- U.S. President Donald Trump again has issued a warning to the BRICS nations, stating they could face a 100% tariff from the United States if they attempt to establish their own currency. This statement was made in response to a question about the BRICS nations - Brazil, Russia, India, and China - exploring the creation of their own form of currency.
BRICS represents a group of major economies that are not part of the G7. Originally, the group consisted of Brazil, Russia, India, China, and South Africa. However, it has been gradually expanding.
It has been reported that the group commenced discussions about the development of its own currency system during a summit in Kazan, Russia in October. Despite these reports, the Kremlin has stated that there are currently no plans to establish a common currency among the BRICS nations.
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