HYDERABAD: President-elect Donald Trump's warning that BRICS countries will face 100 percent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday.
He also said even for BRICS, there are internal differences about bringing out an alternative to the US dollar. The nine-member group that includes India, Russia, China, and Brazil, moving out of the US currency and having a common one remains a non-starter because of both politics and economics.
"Donald Trump has threatened to slap 100 percent tariffs on imports from countries that try to move out of the dollar. His ire was particularly directed at the BRICS bloc which has been actively talking about developing an alternative to the dollar. Trump is known to bark more than he bites," Subbarao said.
Bu hikaye Millennium Post Delhi dergisinin Delhi 03 December 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Millennium Post Delhi dergisinin Delhi 03 December 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Maoist With Rs 1 Cr Bounty Among 14 Killed In Joint Op
Shah Terms It 'Mighty Blow To Naxalism'
Mathura Shahi Masjid Committee moves SC to close Centre's right to file reply
PLACES OF WORSHIP ACT
Shami to make an entrance?
Comeback man Shami in focus as India eye fresh start vs Eng
Indian economy to grow in range of 6.5-6.8% in current fiscal: Deloitte
In its Economic Outlook report, Deloitte India also said the country needs to decouple from global uncertainties and harness its domestic potential
CM Abdullah visits Badhaal as Central team continues probe
J&K MYSTERIOUS DEATHS
BJP will end free education and healthcare: Kejriwal
In a fiery attack on the Bharatiya Janata Party (BJP), Aam Aadmi Party (AAP) National Convenor Arvind Kejriwal accused the opposition of planning to dismantle Delhi’s welfare schemes if voted to power.
Delhi polls: Punjab CM holds roadshows for AAP
Punjab Chief Minister Bhagwant Mann on Tuesday conducted roadshows in support of Aam Aadmi Party (AAP) candidates in Shakur Basti, Tri Nagar and Mangolpuri for the Delhi Assembly elections.
India Should Reciprocate If US Imposes Higher Tariffs: Trade Experts
They noted that India has previously implemented retaliatory customs duties on several US products, such as apples, in response to what it deemed 'illegal' tariffs imposed by America on certain steel and aluminum products
SC Asks HCs To Set Up Panel Over Judges Pay Commission Recommendations
NATIONAL JUDICIAL PAY COMMISSION IMPLEMENTATION ISSUE
Adani's younger son to wed on February 7 in simple ceremony
NO CELEBRITY STARS INVITED
