U.S. President-elect Donald Trump's warning against BRICS nations over currency matters is set to impact emerging markets and the U.S. dollar's performance this week. Trump demands BRICS nations not to support a new currency to replace the dollar, facing a 100% tariff if they do. Following Trump's previous volatility-inducing proposals against China, Mexico, and Canada, the dollar's future is uncertain, with its recent eight-week winning streak ending last week.
The global market spotlight on Monday looks set to zoom in on the dollar, especially its performance against emerging market currencies, after U.S. President-elect Donald Trump 's weekend warning against the so-called ' BRICS ' nations.
The dollar's path on Monday will be fascinating to observe. It snapped an eight-week winning streak last week with its steepest weekly fall since mid-August, as U.S. rate cut expectations cooled and Treasury yields fell. A private survey on Sunday showed that new home prices in China rose at a year-on-year rate of 2.40% in November versus 2.08% in October. And on Saturday, China's official purchasing managers index data showed that factory activity expanded modestly for a second straight month in November, and at its fastest pace in seven months.
Economists polled by Reuters expect a reading of 50.5, up from 50.3 in October, which would mark the fastest pace of expansion since June.
DOLLAR BRICS TRUMP GLOBAL MARKETS EMERGING MARKETS
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump promises staggering tariffs for BRICS countries if they abandon U.S. currencyPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Read more »
Replace US dollar and face 100 percent tariff: Trump threatens BRICSThe statement comes after a BRICS summit held last month in Kazan, Russia, where the countries discussed boosting non-dollar transactions and strengthening local currencies.
Read more »
Donald Trump Threatens BRICS Countries—Including Russia, India—With 100% TariffsTy Roush is a New York City-based breaking news reporter who frequently covers Russia’s invasion of Ukraine, the automotive industry and sports money. He joined Forbes in 2022 and has covered Exxon acquiring Pioneer for nearly $60 billion, a mysterious respiratory illness affecting dogs across the U.S.
Read more »
Trump Threatens 100% Tariffs for BRICS Countries Refusing to Use US DollarU.S. President Trump's threat targets countries in the BRICS alliance, demanding a commitment against creating a new currency to replace the U.S. dollar, or facing 100% tariffs and exclusion from the U.S. market. The move reflects growing dissatisfaction among BRICS members and other developing nations with America's dominance in the global financial system.
Read more »
Trump threatens a 100% tariff on BRICS countries if they abandon U.S. dollarPresident-elect Trump's plan to raise tariffs by 25 percent on goods from Mexico and Canada and 10 percent on Chinese goods has the auto, agriculture and other industries bracing for the potential blow. NBC News' Hallie Jackson reports on how some businesses are trying to adapt.
Read more »
Trump Threatens 100% Tariffs Implementation Against BRICS Countries Forming New CurrencyPresident Trump has issued a warning to countries in the BRICS alliance, threatening a 100% tariff tariff if they form a new currency to replace the U.S. dollar. The U.S. has long dominated the global financial system, leading some nations to seek alternatives.
Read more »