Jaishankar says no proposal on BRICS currency amid Donald Trump's 100% tariff threat over de-dollarisation efforts
Doha/New Delhi: External Affairs Minister S. Jaishankar has clarified in Qatar that no decision has been made regarding the creation of a new currency to challenge the US dollar, media reports said.
He made these remarks while attending the Doha Forum, a week after US President-elect Donald Trump called on BRICS nations, including major economies like India, Russia, and China, to refrain from developing or endorsing any currency that could replace the dollar.
Trump had warned of imposing 100% tariffs on BRICS countries if they pursued a de-dollarization policy or sought alternatives to the US dollar.
“We had a strong and productive relationship with the first Trump administration. While there were some trade-related challenges, many international matters were handled effectively. It was also under Trump’s leadership that the QUAD initiative was revived,” Jaishankar was quoted as saying by NDTV.
He highlighted the close personal bond between Prime Minister Narendra Modi and President-elect Trump, which has played a key role in strengthening the bilateral ties between the two nations.
“PM Modi shares a personal relationship with Trump. Regarding the BRICS comments, India has consistently opposed de-dollarization. At present, there is no plan to introduce a BRICS currency. The BRICS nations do discuss financial transactions, but the US remains our largest trade partner, and we have no intention of undermining the dollar,” Jaishankar emphasized.
Trump had previously warned BRICS members not to create or support a currency that would replace the US dollar, adding that they should "find another sucker" if they pursued such a move.
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