Pratchett’s Take: US Tariffs on BRICS Could Spell the End of Dollar Dominance 🤑

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In a world where the dollar once reigned supreme, the looming U.S. tariffs on BRICS nations might just be the final nail in the coffin, accelerating the de-dollarization trend and ushering in a new era of financial chaos. 🌍💰

US Tariff Threats Could Backfire as BRICS Strengthens Parallel Financial System

As the global economic landscape shifts like a sand dune in a desert storm, the divide between major powers is growing wider, and the dollar’s once-unchallenged dominance is starting to look more like a mirage. Economist Igbal Guliyev of MGIMO University, in a recent interview with Russian news agency Tass, warned on July 10 that a proposed 10% tariff on BRICS nations—courtesy of U.S. President Donald Trump—could spell the end of Washington’s economic leadership. 📈💥

The BRICS countries are rapidly forming a parallel architecture in the financial, technological, and institutional areas, thereby challenging the existing status quo and the dominance of the dollar. It’s like they’re building a new castle while the old one is still standing, but with a few too many cracks in the walls.

Guliyev sees the tariff plan as more than just a trade spat; it’s a sign of a broader geopolitical recalibration. Rather than isolating BRICS, he believes the U.S. proposal will likely galvanize a coordinated and forward-thinking counterstrategy. “The reaction of the BRICS countries will probably be not only tit-for-tat, but also strategically thought out – from accelerating de-dollarization to creating a new system of international settlements. This may mark the beginning of the decline of American economic dominance and the emergence of a truly multipolar trading system. The world is entering a period of turbulence, where non-economic factors will increasingly determine the economic future. It’s like a game of chess where the pieces are starting to move in ways no one expected.” 🤔♟️

These shifts are already underway, with China publicly denouncing the proposed tariffs as economic coercion and BRICS members stepping up efforts to bypass Western-controlled systems like SWIFT. It’s as if they’re all learning to play a new game, and the old rules just don’t apply anymore. 🎲🔄

At a separate press conference, Russian Deputy Foreign Minister Sergey Ryabkov pushed back against the idea that BRICS has anti-U.S. intentions. “Nothing on the BRICS agenda contains an anti-American component,” Ryabkov said, adding that economic tensions should be addressed through “normal, calm dialogue” rather than unilateral threats. He urged Washington to engage diplomatically instead of using coercive trade policies. It’s like telling a bull in a china shop to take a deep breath and maybe try a different approach. 🐂🏺

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2025-07-11 05:57