Politics Country January 31, 2025

Kremlin Downplays Trump's Tariff Threat

The Kremlin on Friday minimized the significance of the threat made by U.S. President Donald Trump regarding potential tariffs on BRICS nations if they create their own currency. There is no plan for such a step, according to Russian officials.


Kremlin Downplays Trump's Tariff Threat

The Kremlin minimized in a statement to reporters on Friday the threats made by President Donald Trump of the USA regarding the introduction of customs duties on the BRICS group of countries if they create their own currency, stating that there are no plans for such a step.

The deputy chairman of the State Duma's Committee on Financial Markets Anatoly Aksakov expressed the opinion that, "As for the threats made by President Trump of the USA, it is very likely that it is more rhetoric than action."

Aksakov also emphasized that, in his opinion, the BRICS countries do not plan to create a common currency, therefore the necessity to impose sanctions is not worth discussing today. "Within BRICS, options for cooperation in the financial sphere were discussed, including the use of national currencies in foreign trade operations," he added.