Trump claimed that countries in the BRICS alliance must commit to not creating a new currency to replace the U.S. dollar, threatening them with 100% tariffs.
Putin accused the U.S. of weaponizing the dollar and stated that Russia is compelled to seek alternatives due to America's dominance.
The dominance of the U.S. dollar, despite accounting for 58% of foreign exchange reserves, is under threat from BRIC nations wanting to pursue de-dollarization.
At an October summit, Putin highlighted the frustrations of countries looking for alternatives to the dollar, saying, 'It's not us who refuse to use the dollar.'
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