Putin: Dollar’s global influence wanes amid Trump’s tariff threats

Russian President Vladimir Putin criticised US president-elect Donald Trump’s proposal to impose 100 per cent tariffs on BRICS countries, pointing to the declining global influence of the US dollar.

Speaking at the VTB Russia Calling! Investment Forum in Moscow, Putin said the dollar has lost ground due to actions by Trump’s Democratic rivals over the past four years.

Putin noted that the dollar is increasingly being used as a tool for political pressure and argued that its global influence is waning as the United States’ share in the global economy declines. He also highlighted the growing prominence of alternative financial instruments and technologies.

Trump’s proposed tariffs follow speculation about the BRICS alliance moving away from the dollar, underscoring rising global trade tensions.

Attribution: TASS

Subediting: M. S. Salama