Trump's threat of 100% customs duties on Brics nations unrealistic: GTRI

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Trump's threat of 100% customs duties on Brics nations unrealistic: GTRI - Business Standard

Quick Summary:

The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday.

Over the past few years a few of its member countries, in particular Russia and China, are seeking an alternative to the US dollar or creating their own BRICS currency.

BRICS, formed in 2009, is the only major international group of which the US is not a part.