Trump's Threats to BRICS Are Response to Potential Decline of US Empire, International Analyst Says
© Getty Images / SOPA Images
Subscribe
Recently, US President Donald Trump reiterated his threat of 100% tariffs for BRICS nations if they create an alternative to dollar.
Western countries are now worried about their decline and their influence on the African continent, Josia Moyo, Deputy Director of Research and Policy Development of the South African BRICS Youth Association (SABYA), told Sputnik Africa, noting that the dollar has been weaponized, with countries that don't align with US interests facing punishment.
The expert also pointed out that if 100% tariffs are introduced, it will affect the economies of not only the BRICS countries but also the US economy. Economies around the world are interconnected, and an instability in one part of the world can create and can have serious implications for the international economy, he said.
"If you read the literature on economics, many economic experts will tell you that to some extent tariffs increase inflation within a country that imposes it. So this impact will not only be on South Africa and BRICS, but they will be also on the United States, not only also the United States, but even, the international community as a whole," he commented on the threat of tariffs made by US President Donald Trump.
Moyo explained that the BRICS formation stems from frustration over the lack of representation for countries in the global South within global governance institutions. He clarified that it's not an anti-West formation, but rather a collaboration of Southern countries seeking to address global governance issues from a shared perspective of mutual interest, where everyone's concerns are considered.
