Trump’s threat ‘seems empty’, no serious proposal to come up with alternative BRICS currency: Congress MP Shashi Tharoor

Shashi Tharoor dismisses Trump's tariff threats on BRICS nations over US dollar replacement, calling them empty and baseless.

Congress MP Shashi Tharoor said that U.S. President Donald Trump’s threats to impose tariffs on BRICS nations “seem empty” as there is no plan to introduce an alternative currency to the U.S. dollar.

He said that there is no serious proposal for the BRICS to come up with an alternative currency to the dollar and called the dollar a “practical convenience” for most nations in the world.

On Mr. Trump threatening to impose tariffs on BRICS nations if they try to replace the U.S. Dollar with any other currency, Shashi Tharoor said, “I heard this comment by President Trump. But the fact is there is no serious proposal for the BRICS to come up with an alternative currency to the dollar. The dollar is a practical convenience for most countries in the world.”

“There may have been some discussion, and we certainly have in the past had some examples of Rupee-Rubel trade with Russia, Rupee Riyal trade with Iran, and so on. So, that’s not impossible. An alternative international currency. I don’t think there is any particular plan whatsoever to do that. And therefore, the threat of the president seems a bit empty because it’s only if there is an actual proposal that comes up and that countries like India are taking forward seriously. I don’t see any support in the Indian government for such a proposal. So, until that happens, why should we worry,” he added.

Mr. Tharoor’s remarks come after Donald Trump once again held out the threat of tariffs to BRICS nations if they try to replace the U.S. Dollar with any other currency.

In a post on Truth Social, Mr. Trump wrote, “The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER. We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100 per cent tariffs and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another sucker Nation. There is no chance that BRICS will replace the U.S. Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!”

Through this statement, Mr. Trump reiterated his position on de-dollarisation, warning that BRICS countries must commit to maintaining the U.S. dollar’s role in global trade or face economic consequences.